Iran prepares to regulate cryptocurrency mining
The parliament presented a legislative initiative to control cryptocurrencies, giving the Central Bank a fundamental role as a regulatory entity
The legislators of the Iranian parliament presented a bill that will allow crypto mining in their territory with well-established rules and a preponderant role of the Central Bank.
The project aims to “support cryptocurrency mining and organize the internal exchange market”, instructing the Central Bank as the main regulator of crypto commercial exchanges within the nation.
The initiative also contemplates, in principle, prohibiting the use or adoption of BTC or any other cryptocurrency as a means of payment.
Recently, the government of Iran temporarily suspended crypto mining activity in the country. However, this measure only put many miners underground. In early June, some 7,000 miners were confirmed on a crypto farm that they were operating without authorization.
Iran’s progress towards mining regulation would constitute an essential step in the relationship between the ecosystem and national governments and would impact the global context.
The government of Iran would control crypto miners through the Ministry of Industry. Those interested in mining digital assets, must request an official license to operate it. They will also require a special authorization from the Ministry of Energy to build the power plants necessary for their operations.
M. Rodríguez
Source: cripto247
