Iranian authorities: mining is recognized as an industry

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Iranian authorities: mining is recognized as an industry
Iranian authorities: mining is recognized as an industry

Secretary of the Supreme Council of Cyberspace of Iran reported that various ministries of the country’s government recognized the mining of cryptocurrencies as an industry.

Secretary of the Council of Cyberspace Abolhassan Firouzabadi stressed that the mining of cryptocurrency, such as bitcoin (BTC), was approved by major state bodies as an industry. However, the official legislation creating a legal basis for the industry has not yet been introduced in the country.

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Mr. Firouzabadi said that the mining was recognized as the industry by the main bodies of Iran, including the Ministry of Information and Communication Technologies, the Central Bank, the Ministry of Industry and Trade, the Ministry of Energy, and the Ministry of Economy and Finance.

Firouzabadi said that the Iranian national cyber center is developing a platform for regulating cryptocurrency mining. The official also added that the government is also considering the possibility of launching a national cryptocurrency in order to create a financial tool for cooperation with Iranian business partners against the backdrop of economic pressure from the US.

Reportedly, the secretary said that the relevant authorities at the end of September will provide a regulatory framework for startups and firms related to crypto and blockchain.

In late August, the Supreme Council for Cyberspace of Iran showed that the draft state cryptocurrency bill is already ready, following the instructions of Iranian President Hassan Rouhani, who gave instructions to create it earlier.

At the same time, the deputy director responsible for developing the rules for the Supreme Council of Cyberspace of Iran argued that the government is actively discussing the idea of launching a national cryptocurrency.