Iran’s President Asks Gov’t to Plan National Crypto Mining Strategy

Iran’s president has tasked officials at the central bank and ministries of energy, communications and IT with drafting plans for a national cryptocurrency mining strategy. 

As reported by the Iranian news website ArzDigital on May 22, officials were briefed during the 137th session of Iran’s economic coordination headquarters earlier this week, chaired by President Hassan Rouhani.

The development comes shortly after the Iranian government announced a redenomination policy for the country’s fiat currency, the rial, in a bid to tackle crippling chronic inflation.

Digital currencies closely watched by the Iranian government

Earlier this week, Iran had also moved to include cryptocurrencies into its foreign currency exchange regulations and anti-currency smuggling enforcement efforts.

This will bring those crypto exchanges licensed by the Central Bank of Iran under the purview of existing regulatory regimes for foreign exchange currencies, amid a period of extreme capital outflows…