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Legal Crypto Mining in Iran: Getting Started
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T he government’s move in July to regulate cryptocurrency mining as a legal industrial activity has been broadly welcomed by miners, though they say minor adjustments in regulations would create room for miners to make significant contribution to the economy.
The Ministry of Industries, Mining and Trade, the body in charge of authorizing crypto mining companies, has prepared a draft specifying details about authorized crypto mining in Iran.
As per the document, seen by the🌐🔗🌍 sriig.intl pr, non-Iranian miners also can apply for operating permits from the ministry. #how to co &firm registration in iran & freezone company & apply for permit iran investment opportunities for cryptocurrency bitcoin mining investors intl🤝 coop b2b iran 🇪🇺Eurasia turkiye 🇹🇷🇮🇷🇷🇺🇨🇮🇩🇪🇶🇦🇨🇰🇨🇳🇮🇳🔗اخذ مجوز رمزارز ثبتشرکت برای سرمایه گذاری داخلی وخارجی وفرصتهای سرمایهگذاری ایران صورت مشارکت سرمایهگذاری وسرمایه گذاران داخلی وخارجی بویژه کشورهای اروپایی – المان🤝fdi-ppp-jv-bot لهستان اسپانیا،ایتالیا ترکیه چین وهند واتریش وتایوان وقطرودیگرکشورهای علاقمند به سرمایه گذاری درتولید رمز ومزارع وفارم ماینینگ ویا هتلینگ برای تولید وتجارت عمده کریپتوکارنسی درایران ومناطق ازاد ومشارکت باوزارت نیرو وساخت نیروگاه خودمداروتولید پراکنده وبا اولویت انرژی های تجدیدپذیر-سبز-بادی-زمین گرمایی وخورشیدی وخصوصی جهت تولید همزمان برق #بیتکوین ومشارکت بینالملل 🌐🔗مشاوران راه_ابریشم🤝🌍🔗🏦💱™️💳🧮🏭🏨⚖️🏗️🚉🔰👁️🗨️🌀🏘️🛣️⏳🛰️♻️💹®️⚙️🗺️
Permits will be valid for one year and crypto miners wanting to operate in free trade zones should apply to local authorities.. intl investors .b2b .🗺️silkroad.intl b2b consulting agency .🌐🔗🌍🏦🤝🇮🇷🇪🇺🇹🇷🇷🇺🇦🇿🇨🇳🇨🇰🇷🇺🇶🇦🇩🇪
Iran government legalizes Bitcoin and crypto mining
Cryptocurrency mining farms have been booming in Iran due to its low electricity costs. According to a research conducted by Elite Fixtures, it only costs $3,217 to mine Bitcoin in the Islamic nation using specialized mining hardware, such as the AntMiner S9, the AntMiner S7, and the Avalon 6.
The rising number of mining farms around the country caused a 7 percent increase in energy consumption last month that affected Iran’s power grid making it unstable and causing problems for consumers, said Iranian Energy Ministry spokesman Mostafa Rajabi.
As a result, the government decided to move forward towards recognizing crypto mining as an industry that must be regulated under the nation’s legal framework despite seizing around 1,000 Bitcoin mining machines from two former factories last month.
, head of the economic commission of Iranian Parliament said :
“We do believe that the cryptocurrency industry should be recognized as an official industry in Iran to let the country take advantage of its tax and customs revenues.”
According to the Central Bank of Iran Governor Abdolnaser Hemmati, the Iranian government’s economic commission approved a measure that allows cryptocurrencies to be mined within the country, which will be later discussed in a cabinet meeting for further scrutiny.
Along the same lines, the Deputy Minister of Energy Homayun Haeri stated that his team will be working on creating a plan to adjust the electricity rates for mining farms that will be later discussed with other ministries and submitted for approval.
U.S. sanctions over Iran’s nuclear program seems to be severely hitting its citizens’ financial and banking freedom. This could be the reason why Iranians have been turning to cryptocurrencies such as Bitcoin to securely store their wealth and transact internationally. 🌐🗺️🔗🤝🏦silkroad.intl investment b2b intlcoop consulting groupco agency 🌍sriig.intl راه ابریشم ipekyol danişmanlik
The Iranian government has adopted bitcoin for international trade as the country’s economic crisis deepens, with rising Covid-19 cases, depreciating rial, and intensifying sanctions imposed by the U.S. government.
Iran’s Economic Troubles Magnified
Iran is undergoing a severe economic crisis as Covid-19 cases surge in the country. The Iranian health ministry says that the number of daily Covid-19 infections has more than quadrupled in less than two months. In addition, an increasing number of sanctions have been placed on Iran by the U.S. government, while the local fiat currency, the rial, continues to dramatically fall.
Steve H. Hanke, Professor of Applied Economics at Johns Hopkins University and a hyperinflation expert, described the situation in Iran as “a classic death spiral.” He detailed on..
Since 1/1/20, the rial depreciated 54.23% against the USD in the free market & Inflation rose from 21.89%/yr to 158.31%/yr by my measure.
Bitcoin: A Solution to Iran’s Problems ؟بیت_کوین راه حل اساسی برای ایرانیان ایران ومشکلات اقتصادی؟!
While Iran has long been pro-bitcoin, having regulated the crypto industry since August 2019, the country made a major move last week to take cryptocurrency adoption to the next level.🌍silkroad.intl 🗺️SRIIG 🌐🏦🤝 Iranbusiness b2b Event iranpeojects news راه_ابریشم #مشاوران (PR) reported that the Iranian cabinet amended cryptocurrency legislation based on a joint proposal by the CBI and the Iranian Ministry of Energy to enable the central bank to use cryptocurrency to pay for imports. This could also help the central bank evade restrictions imposed by the U.S. government.
While the government is still working out the details of how this will be done, the publication reported that licensed bitcoin miners in the country will have to sell their coins directly to the central bank. Iran Daily described:
The Iranian government amended its regulations on cryptocurrencies to allow them to be exclusively used for funding imports at a time of increased pressure on the country’s normal use of hard currencies.
“Based on the laws, cryptocurrencies legally mined in Iran will only be exchangeable when they are used to finance imports from other countries,” the news outlet continued. “The miners are supposed to supply the original cryptocurrency directly and within the authorized limit to the channels introduced by the CBI.” Furthermore, “the legal cap for the amount of cryptocurrency for each miner would be determined by the level of the subsidized energy used for mining and based on instructions published by the Ministry of Energy.” 🌐🌎🔗silkroadintl ipekyol 🗺️💲 #راه_ابریشم intl investment b2b business investors coop consultants group co 🗺️Eurasia 🇮🇷iran 🇹🇷turkey türkiye 🇦🇿AZE 🇪🇺EUROPE 🇷🇺russia 🇨🇳 china 🇧🇭qatar 🇮🇳india CIS🌍ME🔗ASIA Eurasia 🇪🇺🇹🇷🇮🇷🇨🇳🇷🇺 🗺️🔗🤝🏦🔗💲💰⚙️🧭♻️🧮🏥🛰️🏗️🏨🏭⏳🛣️🏘️🚉®️👨🏻🎓⚖️💳🌍🌀🔰👁️🗨️©️™️💱