TEHRAN – Iranian President Hassan Rouhani on Tuesday called for new rules regulating the use of cryptocurrencies in the country in order to protect people’s assets in the capital market.
In comments at a meeting of the Administration’s Economic Cooperation Headquarters, Rouhani said it is necessary to regulate the legal use of cryptocurrencies and devise and introduce new rules in order to protect the financial assets of people.
Warning of the risks associated with the cryptocurrency trade, the president urged people to avoid entering that market without enough expertise and knowledge.
Developing a smart economy is a necessity today, but legal and technical regulations need to be made carefully and a dynamic policy must be formulated in this regard, he added.
The president also noted that the energy-intensive mining of cryptocurrencies such as Bitcoin will be banned until the end of summer, saying the ministries of intelligence, ICT and energy are in charge of taking action against cryptocurrency miners.