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Iranian Government Approved Crypto Mining As An Industrial Activity




Iranian government approved crypto mining as an industrial activity

The Iranian Government authorized crypto mining as an industrial activity, in a Sunday cabinet session, chaired by President Hassan Rouhani.

According to the report on July 29, those involved in crypto mining will be required to seek a license from the ministry of industry, Mine, and Trade.
A warning is issued to cryptocurrencies users to accept its risks and the government and banking system will not provide any guarantees for them.

The expert believes that the step to legalize cryptocurrencies in the country can be used as a means to mitigate the effects of US-imposed harsh economic sanctions against Iran.

The subsidized electricity rate in Iran has encouraged many miners such as those from China to operate in the country Mehr News report.


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