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Iranian Parliament Commission Calls for Halt to Central Bank's Digital Rial CBDC Project

The Article 90 Commission of the Iranian Parliament has stated that the Central Bank of Iran's digital Rial CBDC project has no legal basis and should be halted immediately.

The Commission, tasked with monitoring the performance of the executive, judicial, and legislative branches, argued that the Central Bank is not allowed to issue non-physical financial instruments under current monetary and banking laws.

The Commission insists that the Central Bank provide legal documentation and that the Parliament express its opinion on the project's necessity. Many critics are concerned that the digital Rial project would grant the Central Bank unrestricted control over individuals' assets.

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