From Legislation to the Necessity of Creating a Cryptocurrency Fund in the Capital Market

According to Eghtesad Online, Hojjatollah Saidi, the Head of the Securities and Exchange Organization, emphasized the importance of blockchain technology and cryptocurrencies in the 21st-century economy at the National Future Cryptocurrency Event. He pointed out that global changes and emerging phenomena require governance systems, including monetary and capital markets, to define their position and framework in response to these technologies.

In his remarks, Hojjatollah Saidi noted the profound changes of the 21st century, stating: "This phenomenon is observed not only in politics but also in economics. Blockchain technology, as one of the most significant economic transformations, is rapidly advancing without waiting for official regulations."

He mentioned that cryptocurrencies, digital currencies, and digital money have narrow conceptual boundaries, stating: "These technologies have become a necessity in today's world. The governance system must clarify its position in light of these developments and take advantage of existing opportunities."

The Role of Blockchain in the Capital Market

The Head of the Securities and Exchange Organization highlighted the importance of integrating blockchain technology with the monetary system and capital market, saying: "In the capital market, the asset nature of cryptocurrencies and related technologies is of special significance. These assets are changing the rules of the game as a store of value and a means of exchange."

He added: "The duty of the capital market is to create mechanisms such as asset securitization to facilitate the acceptance and management of these assets. The 2008 financial crisis highlighted the need for transparency in this area due to issues with subprime securities and unsecured assets. Now, we must guide these assets toward regulated frameworks using tools like tokenization. We also know that we will soon need to issue licenses for cryptocurrency funds."

Global Experience and Iran's Path Forward

Saidi referred to the experience of countries like China, stating: "China has been able to set aside cash and move toward complete digitalization. This shows that the world is moving toward encryption and digitalizing its economy, and we must also take steps in this direction."

In conclusion, he emphasized: "Iran's capital market needs to adapt to new technologies like blockchain. The creation of token-based funds and the use of various cryptocurrencies can be tools for managing these transformations and seizing upcoming opportunities."