Digital Mining Now Legally Permitted By The Govt. In Iran.

Digital Mining Now Legally Permitted By The Govt. In Iran.

2018-09-05 | Selina Mathew

Digital Mining Now Legally Permitted By The Govt. In Iran.

According to a report from local news source ‘IBENA’ the secretary of the Iran’s Supreme Cyberspace council stated that the ministers of the country’s govt. have accepted Cryptocurrency mining as an industry in the country.

As per the report, the Council’s secretary named ‘Abolhassan Firoozabadi’ stated that the mining of digital currencies like Bitcoin ‘BTC’, Ethereum ‘ETH’ etc has been approved to work as an industry by major govt. authorities. However, official legislations are forming a legal framework for the mining industry, which is yet to be introduced within the country.

Firoozabadi aforementioned that digital mining has been accepted by Iran’s major authorities, together with the Ministry of information and communications technology, the Ministry of trade, Mine and Trade, the Ministry of Energy, moreover along with the Ministry of Economic Affairs and Finance.

Mentioning further he said that the Iranian cyberspace center is also developing a platform for digital currency mining regulations. He further said that the govt. is additionally considering the launch of a national digital currency so as to form a monetary tool to get together with Iranian business partners amid economic pressure from U.S. sanctions.

The secretary reportedly claimed that the relevant authorities can introduce a regulative framework for crypto-related startups and corporations mostly by this month.

Previously in late Aug. this year, the cyberspace centre also revealed that the draft of the state-backed cryptocurrency project is prepared, following directions from President. Moreover, the deputy director drafting laws for Iran's Supreme Cyberspace Council revealed that the concept of launching a national digital currency is currently being actively pursued.

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