Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
In what could be a big step towards the legalization of cryptocurrency in Iran, the country’s government has classified the mining of coins as an industrial activity. This authorization of the activity means that it falls under the scope and rules of the government.
The decision was made over the weekend, according to local media reports, and in attendance at the meeting was Iran’s President Hassan Rouhani.
Entities that are looking to mine cryptocurrency in the country will have to seek out a license at Iran’s Ministry of Industry, Mine, and Trade.
This move is a long way from total freedom and legality of cryptocurrency in the country, but experts are still interpreting the decision as a good sign. Experts believe this could be the first step towards legalization, especially considering its potential to get around strong US sanctions on the country.
None-the-less, as it stands, the use of cryptocurrencies domestically remains outlawed. Those now taking part in the legal mining of cryptocurrencies will need to bear responsibility for this.
The benefits for those mining cryptocurrencies still outweigh the risks of illegal usage of the coins as there is a massive subsidy for the miners from the government.
Subsidized electricity rates in the country in general - currently at half-a-cent per kilowatt - are reportedly even enticing miners from China to move to Iran. However, this could be an area for money-making for the government.
Part of the reason for legalizing the mining of cryptocurrency is that Iran wants to take advantage of the tax and customs revenues that can come for it. Even with the general subsidized electricity rates, Iran intends to charge a premium to miners.
The idea of legalizing, and thus regulating, mining in Iran is win-win for both miners and the country. The purpose of legalizing it means that the industry is given legitimacy, and the government has a chance to earn money off of the industry.
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
TRENDING
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Binance´s Launchpad Gears Up Tor Arkham Token Sale, Starts Recording BNB Balances
2 months ago | Benzinga
Arkham´s New Crypto Intel Trading Platform: A Game Changer For Traders?
2 months ago | NewsBTC
Bitcoin Could Rise to $120K by End-2024: Standard Chartered
2 months ago | Coindesk
Bitcoin Edges Lower; Bone ShibaSwap Becomes Top Loser
2 months ago | Benzinga
JustBit Casino Review
JustBit Casino, which specializes in virtual currencies, is easy to use because withdrawals are expl...
Huobi Token General Overview
Is Ripple The Cryptocurrency of 2021? - In Depth Review of Ripple XRP
Ethereum Classic Review
Monero General Overview
YouHolder
YouHodler is not just another player in the crypto space; it's a dynamic and innovative company ...
XBO
XBO.com cryptocurrency exchange redefines how you interact with crypto. Designed to make the benefit...
Bithumb
Understanding Bithumb This article highlights what is Bithumb and where it is located. It also di...
Bitstamp
Bitstamp's continued success in the crypto market This article highlights what Bitstamp is. I...
Bitfinex
Bitfinex general overview delves deep into its operations since its inception in 2012 up to date. It...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Iran Classifies Cryptocurrency Mining as an Industrial Activity
In what could be a big step towards the legalization of cryptocurrency in Iran, the country’s...
2021 Decentraland (MANA) Price Forecast
Mana coin was officially launched in 2017. Before the launch, virtual land parcels were as low...
Monero General Overview
What is...
Fidelium Introduces Cryptocurrency App With A Dedicated Debit Card
Fidelium is a US-based startup that went into a contract with a major debit card company in...
Bitcoin, the gold rush!
Every passing day sees the Bitcoin curve climb higher and higher.Today the cryptocurrency has...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)