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Iran Allows To Mine Cryptocurrencies

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Iran Allows To Mine Cryptocurrencies

One of Bitcoin's main opponents, Iran, while allowing BTC to be mined, will still not allow for the trade of it.

Iran and cryptocurrencies

According to Press-TV and some other sources, the Iranian central bank plans to legalize the mining of cryptocurrencies after the last few months in the country that were rather nervous. Iran still has to deal with US financial sanctions. Some have advised the country that cryptocurrencies may be somehow not only a way out of the biggest crisis, but it can also speed up the country's economy. Tehran regarded the mining of cryptocurrencies as a branch of industry in 2018, but energy consumption led to the situation in which doubts were quickly raised about this practice. According to some sources, the most active miners used the energy provided by mosques.

Change of opinion

Officials recently suspended this dispute, believing in the need to explain it only when new electricity prices are clarified.
Mining crypts should be based on the price of electricity. What is more important, although, is the fact that the mined coins should be the reaction to the national economic cycle.
- believes Abdol Nasser Hemmati, the head of the Iranian central bank. In the last week, one of the Iranian government members admitted that he knew about Chinese operations on cryptocurrency mining in Iran. Minister of Communications and Technology, Mohammad Javad Azari Jahromi, claims that private companies can still operate locally for this purpose:
The Chinese government is not considering participation in the mining of cryptocurrencies in Iran. Nevertheless, there is no guarantee that private individuals will not be involved.
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