Iranian government officially legalized mining cryptocurrencies

Last Sunday, the Iranian government, according to the Mehr news agency, at a meeting under the leadership of the country's president Hassan Rouhani decided to consider mining mining cryptocurrency to be a separate legal industry.

Thus, according to the new law, anyone in Iran will be able to legally engage in the mining of cryptocurrencies, having received for this a special license from the Ministry of Industry, Mines and Trade.

Such activities are taxable. At the same time, miners who will sell cryptocurrency abroad, deducting part of the proceeds to the state, will be able to count on certain benefits, while the use of cryptocurrencies for settlements within the country remains banned.

Recall that the government plans to legalize mining, it became known two weeks ago from the governor of the Central Bank of Iran. According to Abdol Nasser Hemmati, the authorities had two basic conditions for this activity: the extraction of international digital currencies should be based on the export price of electricity, and the currencies extracted should be returned to the national economic cycle. In addition, Iran will introduce special tariffs for electricity for miners.

Publication date 07/30/2019
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