Mining in Iran was recognized as a separate industry. The authorities are beginning to develop regulations for this industry.
As the local publication IBENA writes, the news was reported by the Secretary of the Supreme Council of Cyberspace Abolhassan Firouzabadi. According to him, the mining of cryptocurrencies was recognized by several industries as a separate entity, including the Central Bank, the Ministry of Industry, Mining and Trades.
The same report says that before the end of September, The National Cyberspace Center of the country and the Central Bank will present rules for the work of blockchain startups, digital assets trading and other activities related to cryptocurrencies.
In the end of August, the The National Cyberspace Center of Iran completed work on the draft law on national cryptocurrency. Then it became known that the authorities planned to lift the ban on digital assets in late September.
WHY IS IT IMPORTANT?
- Recognition of digital money and activities associated with them is important for Iran, especially because of American sanctions. The use of such assets will simplify trade for Tehran with partners, many of which restrictive measures prohibit interaction with the country. In this issue, Iran is going to follow the path of Venezuela, which has introduced a national cryptocurrency into circulation due to restrictions and high inflation. According to Firouzabadi, in Iran, national digital money can be released by the end of the year.