MP: Iranian Gov’t Recognizes Cryptocurrency Industry

Date: 22 July 2019 - 21:14

News ID: ۶۸۴۲۱

TEHRAN (Dispatches) –Head of economic commission of Iranian parliament has said that Iranian government announced crypto trading as an official industry in the country.
He said that "We do believe that cryptocurrency industry should be recognized as an official industry in Iran to let the country take advantage of its tax and customs revenues.”
"In the meeting, some related issue to digital money industry were discussed and as decided, cryptocurrency is now recognized official by the government, and the power prices are decided to be equal to exported electricity prices,” he added.
Meanwhile, an official of Energy Ministry has said a commission has finalized a tariff scheme for cryptocurrency miners.
Homayoon Ha’eri announced that, while the tariff scheme has been finalized, it is awaiting approval from the government.
"By generating cheap electricity, we can provide the required power for digital money miners in the country,” Hazrati said, "The income can be used for purchasing foreign exchanges under U.S. sanctions to remove the difficulties we are faced with.”
Addressing the concerns expressed by Iranian security bodies about digital money in the country, the MP said, "They were worried about depreciation of national currency, loss of people’s assets and flow of forex abroad due to the high fluctuations of cryptocurrency.”