21St Parliamentary Intelligence-Security Forum – Cryptocurrency, Stablecoins, and CBDCs
Mr. Combiz Abdolrahimi elucidated that cryptocurrencies present both opportunities and risks for individuals. On the positive side, they can enhance financial inclusion by providing access to banking services for individuals without traditional accounts, expand financial services to remote communities, and facilitate faster, more direct payments, particularly in emergencies. Cryptocurrencies also enable individuals to participate in a digital economy and potentially benefit from investment gains. However, there are significant risks: cryptocurrencies are highly volatile, can be utilized for illicit activities such as money laundering or evading sanctions, and the regulatory environment is often unclear or underdeveloped. Privacy concerns, cybersecurity threats like ransomware, and the necessity for secure frameworks and oversight are critical considerations. Mr. Abdolrahimi emphasized careful study, collaboration with the private sector, and responsible innovation to harness the benefits while mitigating risks.
