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Crypto currency mining in Iran requires transparency - local blockchain community

Business Materials 18 January 2021 14:23
Crypto currency mining in Iran requires transparency - local blockchain community

BAKU, Azerbaijan, Jan.18

Trend:

The control over the crypto currency mining in Iran is stricter than in other industries, and this limits the number of people active in this field, said the head of Iran Blockchain Community Saeed Mohammad Reza Sharafi, Trend reports via IRNA.

Sharafi said that despite the government of Iran has approved the activity of crypto miners in the country, the rules of the Ministry of Industry Mine and Trade limit the activities of this sector.

"The official statistics about the crypto currency mining hardware is not available but the estimation is that for the past two years roughly 500,000 mining hardware devices were active in Iran," he said.

Sharafi pointed out that restrictions and lack of legal base on the subject would lead to smuggling of crypto mining devices.

"The Ministry of Industries Mine and Trade could change the tariff for crypto currency mining and assigning a minimum of 250 kilowatt electricity for this purpose," he said.

"Transparent activities in this sector would create revenues for the economy but the obstacles would lead to illegal activities," he said.

"The self-declaration of mining hardware has been going on for 25 days already. This is a good attempt and it could yield results, if the ministry solves the obstacles and allows for more transparency," Sharafi said.

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