The online gold market in Iran is facing serious challenges regarding regulation. While effective regulatory tools have been designed to control this market in successful countries, the debate over who should take charge of regulation continues in Iran.
Historical Overview of Regulation in Iran
After years of growth without a clear regulator, in November 2025, the Cabinet issued the law regarding the online buying and selling of gold and silver under the title "Executive Instructions for Online Buying and Selling of Gold and Silver." However, months after the issuance of this law, its implementation process has faced challenges due to delays, unresolved licenses, and disputes between agencies.
The Role of the Central Bank and Existing Challenges
In this instruction, the Central Bank has been designated as the main regulator. This bank must approve the licenses for platforms and also approve the gold storage vaults. However, the Deputy of the National Center for Monitoring and Improving the Business Environment of the Ministry of Economy announced that the issuance of licenses for online gold and silver platforms has been halted for about a year and a half, and the Central Bank has not yet announced its conditions and criteria for approval. This delay has resulted in over 200 unresolved license applications.
Furthermore, although a monitoring system has been established to control online buying and selling of gold, the Central Bank has announced that it wants to transfer the responsibility of this system to the Central Headquarters for Combating Smuggling of Goods and Currency. This is while, according to the law, the Central Bank is not allowed to delegate its powers.
Comparison with Successful Global Experiences
For comparison, Turkey's experience can be mentioned, where oversight of gold begins at the asset formation stage. In Malaysia, the capital market regulatory body has made digital asset platforms responsible for self-monitoring, and each authorized platform must take specific protective measures. Meanwhile, in Iran, there is still no clear instruction for the monitoring system, and uncertainty continues.
Ultimately, the current state of the online gold market in Iran indicates an urgent need for efficient and transparent regulation to prevent further crises.
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