More Than 1,000 Cryptocurrency Licenses Issued by Iran

According to the latest reports, the Iranian Government has issued more than 1,000 licenses for cryptocurrency mining since it began regulating the industry. Keeping the small investors away due to high electricity tariffs, there has been large mining farms set up in the country. 

On revealing about the state of the country’s cryptocurrency mining industry in a recent interview, the official from the ICT Guild Organization of Iran, Amir Hosseini Saeedi Naeini said that cryptocurrency mining is a new industry, but many people have been attracted to it in Iran. 

Elaborating on it, he said,

Our Studies show that the crypto mining industry has the potential to add $8.5 billion to the economy.

Having said that, Amir believes that the cryptocurrency mining industry has an abundant capability to help the Iranian economy. But, still, the major challenge to be faced is electricity cost. The high static tariffs plus rigid regulations have made the sector less appealing for small sector…