Iran Crypto: The Iranian Government Finally Recognizes Cryptocurrency

Iran Crypto

Iran’s Supreme Cyberspace Council Secretary, Abolhassan Firoozabadi, just revealed that various entities within the country’s government have accepted cryptocurrency mining as an industry. The local news agency IBENA reported the Iran crypto news just this morning.

According to this report, Firoozabadi stressed that the mining of crypto has been approved, but a legal framework for the industry has yet to be properly introduced in the country.

Iran Approves Crypto

“The issue that is of great importance is the commitment and acceptance of the cryptographic currency extraction as an industry by all relevant entities,” Firoozabadi told IBNA.

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The secretary believes that cryptographic currencies are one of the important new phenomena of financial technology, given the attention it’s been receiving across powerful countries around the globe. Firoozabadi states that in recent years the Iranian government had decided to make serious decisions in this area and the final stages to determine participants’ policies are right around the corner.

These policies and a framework of the Central Bank of Iran will be announced by the end of the month, the news report reads. However, no definitive decisions have been made yet, and the leaders are working diligently to come to an agreement with the terms.

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Iran Crypto Mining

Much of the decisions around cryptocurrency are still up in the air in the country, as well as the regulations for the process of mining cryptocurrencies. Currently, the policies on cryptocurrency mining are on the agenda to be discussed, as well as Iranian cryptocurrency exchange centers.

“The prospect is extracted in the field of extraction, and the National Space Agency is trying to create a platform for legalizing mining (extracting) cryptographic currencies,” Biroozabadi added.

While the details remain unclear for Iran, its steps toward crypto are a positive one—despite the bearish market.

Featured Image: Depositphotos/© PromesaStudio

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