RATE Group | Iran Authorizes “Haram” Bitcoin as US Sanctions Choke Economy |
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Iran Authorizes “Haram” Bitcoin as US Sanctions Choke Economy |

29 Jul Iran Authorizes “Haram” Bitcoin as US Sanctions Choke Economy |

Posted at 13:26h in Bitcoin News by

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The Iranian government has authorized the mining of cryptocurrencies like bitcoin as an industrial activity on the sidelines of a gloomy economic outlook.

Mehr News reported today that miners would need to obtain required licenses from the Ministry of Industry, Mine, and Trade. The move would make crypto mining a taxable event unless miners export the mined tokens out of Iran and bring back the profits into the country. At the same time, the government has clarified that it would not provide any banking or legal support to miners. It also stated that using bitcoin or any other non-Iranian sovereign asset for payments remains banned.

The go-ahead appeared a week after a government committee approved cryptocurrency mining activities on Iran’s soil. The Central Bank of Iran Governor Abdolnaser Hemmat stated on July 21:

“A mechanism to mine digital coins was approved by the government’s economic commission and will later be put to discussion at a cabinet meeting.”

Haram to Not…

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