Iran Officially Recognizes Cryptocurrency Mining

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Iran to Start Mining Cryptocurrencies in Three Weeks
Iran has agreed to officially recognize the mining of cryptocurrencies as an industry and the Central Bank of Iran, which oversees foreign exchange and monetary policy, will draft a policy framework for the industry in the next 18 days.

The Secretary of Iran’s Supreme Council of Cyberspace, Abolhassan Firouzabadi, told IBENA – a specialized news agency in banking and economy which is affiliated to the Central Bank of Iran – that deepening the use of cryptocurrencies is envisaged to smoothen trade between Tehran and its partners, especially in the wake of renewed US sanctions.

According to IBENA, Firouzabadi stressed that mining of cryptocurrencies like bitcoin had “been accepted as an industry in the government and all related organisations..” These include the government’s Ministry of Communications and Information Technology, Central Bank, Ministry of Industry, Mining and Trade, Ministry of Energy, as well and Ministry of Economic Affairs and Finance.

“But the final policy for legislating it (crypto mining) hasn’t been declared yet,” said IBENA.

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