Iranian President Orders Govt to Draw Up a National Crypto Mining Strategy

In a surprising move, Iranian President Hassan Rouhani wants the government to further explore cryptocurrency mining.

Rouhani told officials at the Central Bank of Iran that they needed to create a national strategy for cryptocurrency mining. This includes regulations and estimates for mining revenues. The story was first reported by Iranian news site ArzDigital on Wednesday. 

The story is undoubtedly one of the most direct confirmations that the Iranian government is taking cryptocurrency mining seriously. Last year, Iran made headlines for officially legalizing cryptocurrency mining.

Due to the country’s cheap electricity prices, many mining operations have been set up there in the past few years. Whereas officials first cracked down on the practice as wasteful, they now see an opportunity. For better or worse, cryptocurrencies also allow the Iranian government to circumvent sanctions, which has been crippling them for years now.

Iran currently has around 4% of Bitcoin


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This article is intended as news or presented for informational purposes only. The topic of the article and information provided could potentially impact the value of a digital asset or cryptocurrency but is never intended to do so. Likewise, the content of the article and information provided within is not intended to, and does not, present sufficient information for the purposes of making a financial decision or investment. This article is explicitly not intended to be financial advice, is not financial advice, and should not be construed as financial advice. The content and information provided in this article were not prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making any investment decisions.
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Jenny
Molly Jane is a Russian Literature major from California with a background in writing. She joins CurrencyTimes after working as a freelance journalist and blogger.

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