Iran accepts Crypto mining as an industry


Something noteworthy is happening in Iran regarding crypto mining, according to the Secretary of Supreme Cyberspace council in Iran, very recently, mining of cryptocurrency has started being considered as acceptable in the sector. It is being revealed by reliable sources that crypto mining is now acceptable in the country and the permission for the same has been given by the government; however, changes in the framework to suit the cryptocurrency dynamics are yet to be made. Nevertheless, all the important authorities in the country have already accepted crypto mining and have thus added to the legitimacy of the sector.

It is being believed that soon enough, a platform would come into being that would be suitable for the regulation of crypto mining and these regulations would be such that they would suit the framework of the economy of the country and ensure that the technology is utilized in the best way possible. It is also being said that Iran will soon come up with its own cryptocurrency to improve its economic condition on the face of the sanctions which have been put on it leading to a dire commercial slump due to the ire of the United States of America.

In the latter part of September, the framework and regulations related to the startups based on Blockchain technology will come into being. It is yet to be determined the manner in which this new development will affect the economy of Iran.

Kavya Lakhani

Kavya is one of the integral members of the CryptoNewsZ Journalists team. She manages the team of correspondents and researches for the platform. She holds a master's degree in Journalism and has cryptocurrency trading experience as well. She constantly follows the cryptocurrency ecosystem with a passion for decentralized fin-tech. You can also mail her at [email protected] to discuss anything related to her reports.

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