Iran to issue new regulation on crypto currency mining
Tehran, Iran, July 13
Iranian government is to announce a new regulation concerning Bitcoin and other crypto currencies, said the Minister of Economic Affairs Farhad Dejpasand.
"While the crypto currencies are currently banned, the government is reviewing another declaration in this regard that will be announced," said Dejpasand, Trend reports citing ISNA.
"The government should approve these regulations and declare the main direction on this issue. Due to ongoing negotiations, no further details will be explained, since previous comments caused tensions in the society," he said.
"Despite current situation and unilateral sanctions against Iran, we have passed this stage by the cooperation with private sector and other public organizations," he added.
Iran had formally recognized mining as an industry in 2018, but concerns about power consumption still created obstacles for crypto currency future in the country.
The managing director of Iran Blockchain Community has recently indicated that Chinese miners have requested to Bitcoin mining to be allowed at Iran's free zones.