Iran has recognized mining as a separate industry

Iran has recognized mining as a separate industry

05 September 2018 by James Green
Iran has recognized mining as a separate industry

Secretary of Iran’s Supreme Council of Cyberspace, Abolhassan Firouzabadi announced that the government of Iran has recognized the cryptocurrency mining as a separate industry.

As explained by this public official, most of state authorities have acknowledged mining as a separate industry, however it is not under regulation. Actually, Iran’s National Cyberspace Center works at the formation of legal framework, but it remains an open question when it will be established.
As to the regulation of crypto industry as a whole, the authorities of the country are going to provide the regulatory standards for blockchain projects, turnover of cryptocurrencies, etc. already in this month.

Abolhassan Firouzabadi also concerned a matter of national cryptocurrency which the public authorities plan to use as a payment means for trade with friendly countries and economic partners. On top of that, it allows to bypass the economic sanctions of the USA. The President of Iran, Hassan Rouhani has made the decision to create such cryptocurrency.

In the end of June the plans of Iran as regards to the issue of national cryptocurrency became known. The Department of Science and Technology and the Central Bank of the country have been working together at its development.

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