Iran’s first teller machine that exchanges bitcoin into Rial and vice versa has been unveiled at the 12th International Exhibition of Exchange, Bank and Insurance in Tehran on Wednesday according to the Russia Today owned German based Ruptly.

It looks like for now the ATM is limited to just the exhibition area with a representative stating:

“We are totally ready to provide the public with this machine 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.”

RT’s Ruptly further quotes an Iranian citizen Elnaz Rahim as stating: “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.”

By trustnodes