Implementation of New Monetary and Financial Technologies in the Digital Space

Seyed Mohammad Amin Aghamiri, Secretary of the Supreme Council and Head of the National Cyberspace Center, has issued a document for the implementation of new monetary and financial technologies in the digital space. This document aims to create a unified framework for regulating financial technologies, facilitating the issuance of licenses, and developing supervisory infrastructures. According to this document, the monetary and financial system of the country must transform into a secure, transparent, competitive, and innovative ecosystem by the horizon of 1410. Areas such as payment, banking, technological lending, insurance, credit scoring, wealth management, and asset tokenization are included within this framework. The responsibility for regulating these areas is divided among the Central Bank, the Ministry of Economic Affairs and Finance, the Securities and Exchange Organization, and the Central Insurance Organization. The Central Bank will be responsible for banking and payment technologies, technological lending, and international payments. The Ministry of Economy will oversee the regulation of collateral and digital credit scoring. The Securities and Exchange Organization will manage wealth and asset tokenization, while the Central Insurance Organization will focus on insurance technologies. The Supreme Commission for Regulating Cyberspace has been designated as the overseer of the performance of sectoral regulators. This document emphasizes facilitating the issuance of licenses, reducing legal ambiguities, and creating integrated infrastructures such as digital identity verification. It also states that compliance with security requirements and combating money laundering are prerequisites for operating in this ecosystem.

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