Tehran rumoured to consider crypto mining legalization

Posted 11 July, 2019

Tehran reportedly considers possible authorization of cryptocurrency mining in the country. The corresponding message was made by the head of the Central Bank of Iran Abdol Nasser Hemmati.

It was noted that Irans faces heavy economic challenges due to international sanctions. As a result, many residents have to switch to cryptocurrencies as a way to store value. 

According to the market data, one of the Finnish exchanges recorded high trading activity in Iran. However, the platform was forced to shut down the business and leave this jurisdiction. 

The government intends to impose export tariffs for crypto miners as well as add mined coins to the national economic circle. However, there is no exact information on how Tehran plans to realize these plans. It is quite possible that cryptocurrencies can become one of the ways to dodge the economic restrictions launched against the country.

For reference, the Central Bank of Iran earlier strived to ban payments in cryptocurrencies and enshrine it at the statutory level. At the same time, the country's energy ministry has proposed to lift preferential fees for crypto miners lately.

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11 July, 2019 16:52

← Canada revises AML policies to cover crypto exchanges

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Canada revises AML policies to cover crypto exchanges

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