Iranian President Hassan Rouhani emphasized the need to legalize cryptocurrency activities to preserve and protect national interests, during the meeting with his cabinet’s Economic Coordination Board, clarifying that crypto mining remains prohibited until late summer.
For the president of the Islamic republic, it is essential that the nation considers the technical and legal requirements related to cryptocurrencies and digital currencies, understanding the risks involved in cryptocurrency trading. In his opinion, the conscience of citizens in this area is very important to avoid unprofessional income.
Rouhani believes that to legalize the activity of cryptocurrencies and protect people’s capital, it is necessary to “think of a solution as soon as possible and establish and communicate the necessary laws and instructions.”
As will be recalled last month, Iran announced, through the Ministry of Energy, that crypto mining with domestic electricity is illegal, for which all those domestic miners who are discovered will be sanctioned with heavy fines. “The Ministries of Communications and Information Technology and Energy are in charge of cutting off the electricity supply to these centers.”
The measure of prohibition of cryptocurrency mining throughout the territory will meet the needs of the increase in domestic electricity consumption during hot summers in the country.