Iran Sees Its First Homegrown Bitcoin ATM

The first Bitcoin ATM in the Islamic Republic of Iran has been revealed at an event called the 12th International Exhibition of Exchange, Bank, and Insurance held in the city of Tehran. Here, as the Bitcoin ATM was being unveiled on its maiden day out, a whole crowd of people lined up to have a look at the first of its kind to be seen in the country. The machine has apparently been manufactured in Iran itself.

The photography crew members employed with Ruptly, a German news media outlet, managed to capture this historic unveiling. At this conference, the journalists also carried out brief interviews with the makers of the Bitcoin ATM and also members of the audience, who were all quite excited about the unveiling event.

The Bitcoin ATM creators, however, also pointed out that they were not going to be able to let the public use the machine just yet, for lack of regulatory go-ahead. One of them commented that they would be all too happy to grant access to the public but:

“we are looking for its regulatory context which some agreements are supposed to happen for this field and people will be able to use it and we are negotiating in this respect.”

This is quite unfortunate as it is clear that Iranian users absolutely cannot wait to use this machine. Right now, the makers are only trying to showcase the machine as much as possible so that more people would at least come to know about, while regulatory approvals get processed by the authorities.

The citizens themselves are clearly quite excited with the product. One of them, a citizen called Elnaz Rahim, had the following to say:

“I was happy, as a person who has Bitcoin, when I used it. I needed cash in Rial and it took me less than three minutes and I was very satisfied. I hope that we will be able to circumvent sanctions by it.”

Earlier this year, Iran was considering how to use crypto as a mode of payment and was discussing that matter with great interest, for the country to be able to circumvent sanctions. The launch of the country’s first Bitcoin ATM only serves to reinforce its footing in the crypto world.