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Early crypto and blockchain adopter and innovator Nick Spanos has slammed Iran’s plans to legalize crypto exchanges in the country, warning that Tehran is trying to have its “yellow cake and eat it.”
Spanos issued the warning hot on the heels of the Iranian National Tax Administration (INTA) announcing plans to establish a legal framework for the taxation of crypto trading platforms operating in the Islamic Republic.
Specifically, INTA has proposed a tax on capital gains, in addition to a fixed base tax and an occupational tax, on crypto trading activity. Its current proposal doesn’t specify how it plans to tax Iranian crypto business.
The move came just around two months after Iranian President Hassan Rouhani called for a “legal framework” for the trading of cryptocurrencies.
Commenting on Iran’s plans to legalize crypto exchanges, Spanos – a co-founder of Zap Protocol and founder of the Bitcoin Center NYC – warned that the Iranian regime has an ulterior motive.
"Iran is seeking the best of both worlds, to bust sanctions, and to help cronies make money, with crypto,” he said.
“Iran can’t have their yellow cake, and eat it, too. “Iranian regulators are not doing this to help the average people, they want to inhibit them from being enfranchised in the crypto ecosystem.
"The people are going to realize how much better they can have it. Some used to say DOGE is a sh*tcoin, but what do you call the tanking Iranian Rial or Turkish Lira?
"Iran is trying to emulate what our sticky-fingered kleptocrats like Gov. Cuomo — the Nursing Home Butcher — have gotten away with during their crypto crackdown.
"How cynical do you have to be to try and license the use of open-source software?" he concluded.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
