Ma`rifat Eqtesadi

Given the Islamic and justice-oriented thought that dominates Iranian society, the application of distributed ledger technology in the country requires a local and forward-looking policy framework to harness the opportunities, harms, and potential risks. This article seeks to develop such a framework using a descriptive-analytical method. Analyzing the nature of distributed ledger technology, its opportunities, and threats, examining the regulatory experiences of other countries in the field of this technology, and diagnosing the country’s economy’s encounter with emerging financial institutions can help provide a policy framework in this regard. Based on the research findings, the policy framework for distributed ledger technology in the Islamic Republic of Iran should be developed by combining “global experience”, “domestic pathology” and “jurisprudential principles”. In this regard, the most important guiding and operational policies proposed in this regard are: 1. Rapid, transparent and interactive legislation; 2. Establishing a specialized and authoritative supervisory body; 3. Formalizing and supporting cryptoassets within the framework of regulations; 4. Abolishing taxation of unauthorized cryptoassets and prohibiting their governmental support; 5. Pursuing technology diplomacy; 6. The need for the public to benefit from the opportunities of this technology; 7. Separating research and development regulations from commercial activity.