Crypto mining becomes industry in Iran

Posted 05 September, 2018

Iran has recognized mining of cryptocurrencies as an industry.

As it was reported, the Secretary of Iran's Supreme Council of Cyberspace Abolhassan Firouzabadi stated that the government and all related bodies, including  Ministry of Communications and Information Technology, Central Bank, Ministry of Industry, Mining and Trade, Ministry of Energy, as well as Ministry of Economic Affairs and Finance.

Notably, despite the acceptance, the final regulation for the industry has not been drafted.

The final rules for creation of blockchain companies as well as regulation of crypto trading and other activities connected with digital coins are said to be announced by the authority till month's end.

The representative of  Supreme Council of Cyberspace also noted that the launch of the national coin in Iran seems to be a good decision as it can be used for transactions and financial cooperation with trade partners and other countries avoiding the US tough sanctions.

Specifically, Iran announced a draft bill for the national cryptocurrency in late August.

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