Crypto Pioneer Warns Of Iran’s Ulterior Motive For Legalizing Crypto Exchanges

Nick Spanos, an early supporter and innovator of crypto and blockchain, plans to legalize crypto exchanges in Iran, warning that Tehran is trying to “take and eat its yellow cake.”

Spanos issued a warm warning announcing that Iran’s National Tax Office (INTA) plans to establish a legal framework for the taxation of crypto trading platforms operating in the Islamic Republic.

Specifically, INTA proposed introducing capital gains tax in October in addition to the flat base tax and the business tax on crypto trading. The current proposal does not specify how Iran plans to tax crypto trade.

The move comes nearly two months after Iranian President Hassan Rouhani demanded the creation of a “legal basis” for cryptocurrency trading.

Commenting on Iran’s plans to legalize crypto exchanges, Spanos-co – founder of the Zap protocol and founder of the Bitcoin Center in New York-warned that the Iranian regime had ulterior motives.

“Iran is looking for the best of both worlds to break sanctions and help its friends make money with crypto,” he said.

“Iran can’t take its yellow pie and eat it. “Iranian regulators are not doing this to help ordinary people, they want to prevent them from getting justice in the crypto ecosystem.  

“people are beginning to understand how well they can do it. Some have said the DOJ is a shitty coin, but you call refueling Iranian rial or Turkish Lira? “Iran is trying to imitate what our kleptocrats are with kleptocrats like the Governor.Cuomo-the butcher at the nursing home-was given during the crypto crackdowns.

“how cynical should it be to license the use of open source software?”it concluded.

DISCLAIMER: This article is for informational purposes only. It is not recommended or intended as legal, tax, investment, financial or other advice.

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