Iran Government Legalizes Cryptocurrency Mining

After months of speculation over the fate of mining and trading cryptocurrencies in Iran, the government late on Sunday announced that it recognizes mining cryptocurrency as a legal industrial activity.

Financial Tribune- In a meeting chaired by President Hassan Rouhani, ministers voted in favor of a proposal that legalizes crypto mining, the government’s website reported.
However, crypto miners must receive special permits from the Ministry of Industries, Mining and Trade.
The government’s decision is still not explicit regarding rules governing trade in cryptocurrencies as it disclaims any responsibility for risks emanating from such digital trade.
“Traders should accept responsibility of using cryptocurrencies and the potential risks would not be covered or compensated by the government and banks,” the website said.

Publish Date: Jul 30, 2019