License for cryptocurrency manufacturing issued in Iran's West Azerbaijan province
BAKU, Azerbaijan, March 8
By Elnur Baghishov - Trend
So far, 21 licenses have been issued to establish cryptocurrency businesses in the West Azerbaijan province located in northwestern Iran, said Industry, Mine and Trade Organization's director of design and software Seyfali Zarbi, Trend reports citing Industry, Mine and Trade Organization.
According to Seyfali Zarbi, these enterprises have invested 445 billion rials (about $10.5 million) and provide employment for 109 people.
Zarbi added that establishment of three more enterprises is currently under consideration.
A special conference on cryptocurrency manufacturing will be held next Iranian year (starting March 21, 2020), and applications from those who want to invest in this area will be considered.
Zarbi said that the first license for the production of cryptocurrency in Iran was issued in West Azerbaijan province and hopes that this process will continue.
On July 28, 2019, the Cabinet of Ministers of Iran gave green light to cryptocurrency manufacturing with the license of the Ministry of Industry, Mining and Trade of Iran.