It is reported that Iran's central bank is working with the Russian government to sell a gold-based cryptocurrency.

According to the Russian news agency Vedomosti, Iran is working with Russia to create a "symbol of the Persian Gulf region" as a means of payment in foreign trade.

Alexander Brachnikov, chairman of the supervisory board of the Russian cryptographic Industry and blockchain Association, indicated that the dynamic password was expected to be sold in the form of smooth coins encouraged by gold.

Smooth currency lending is dedicated to cross-border transactions, unlike currencies such as the US dollar, the Russian dollar or the Iranian dinar. The report shows that such hidden cryptocurrencies will operate in a free trade zone in Astrakhan, where Russia will gradually accept Iranian freight shipments.

Russian legislator, current policy on information content, information technology and communications committee Anton Takachev pays attention to the possibility of coordinated and stable investment in new projects only if the Russian digital currency sales market is well controlled. After repeated delays, the lower house of the Russian parliament has renewed its pledge to gradually control the sale of passwords in 2023.

Countries such as Iran and Russia strictly prohibit their households from using cryptocurrencies such as BTC and smooth loan currencies such as Tether to make payments. In addition, Iran and Russia have been constantly trying to use passwords as a means of foreign trade.

In August 2022, Iran's Ministry of Industrial production, Mineral Resources and Food approved the use of cryptocurrency imports in ongoing international economic sanctions. Local governments say the new measures will help Iran ease economic sanctions around the world. Iran then uses a password worth $10 million to place the first international import order information.

Russian financial institutions-which have historically resisted the use of passwords as a method of payment-allow passwords to be used in foreign trade to mitigate the impact of international sanctions. However, regulators have never responded to what cryptocurrency will be used for such transactions.