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President of Iran Claims to Develop Mining Strategy

25 May 2020 17:23, UTC
President of Iran Claims to Develop Mining Strategy
By Anna Martynova

At a meeting with representatives of the Central Bank of Iran, the Ministry of Energy and the Ministry of Information and Telecommunication Technologies, the Iranian President Hassan ROUHANI announced the need to create a national mining strategy. It should affect the regulation of cryptocurrency mining in the country and government revenue from crypto mining.

Last summer, Iran became one of the countries that officially recognized mining as an industry. The tax breaks were also announced for miners operating in Iran. After that, more than 1000 licenses were issued in the country.

The Iranian President is confident that mining will help restore the economy of the country, which has fallen markedly against the US sanctions. The main task of the Central Bank of Iran is currently to ensure a smooth movement of capital in the country and stop the financial outflow.

Image courtesy of Aljazeera



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