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Crypto Mining Now Accepted As An Industry In Iran

Based on the report of Iran’s local news agency in banking and economy, IBENA, the country’s government has already accepted crypto mining as an industry. This acceptation is backed by various ministries of the country’s government, as publicized by the secretary of Iran’s Supreme Cyberspace Council.
 Crypto mining is defined in the simplest terms as “a way to get Bitcoins”. More specifically it is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger.
Part of the report stated that although the mining of cryptocurrencies such as Bitcoin (BTC) has been approved as an industry by several government authorities, official legislation forming a legal framework for the industry has not yet been introduced to the country, this was emphasized by Cyberspace Council Secretary Abolhassan Firouzabadi.
The secretary also revealed the aforementioned authorities which now recognize crypto mining as an industry. This includes the Ministry of Information and Communications Technology, the Central Bank, the Ministry of Industry, Mine and Trade, the Ministry of Energy and the Ministry of Economic Affairs and Finance.
The Iranian National Cyberspace Center is on the process of developing a platform for cryptocurrency mining regulation, and that the government is considering launching a national cryptocurrency which will establish a financial tool which will go hand in hand with Iranian business partners in the middle of pressure coming from US authorizations.
It was revealed on the later part of August that Iran’s National Cyberspace Center that the draft for the proposed state-backed cryptocurrency project is ready, upon the instructions from President Hassan Rouhani.
Firouzabadi also reportedly declared that the concerned authorities will release a regulatory framework for crypto-related startups by the end of this month.

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