Mining will become the main source of budget revenue for Iran

Iran is preparing an expanded strategy for the development of mining in the country. According to President Hassan Rouhani,the relevant industry can become the main source of budget revenue for the rational use of energy and the achievement of agreements with foreign partners.

Iran getting ready to become a mining center?

This week, Rouhani held a meeting with specialists in the cryptocurrency industry, during which the prospects of launching mining at state-owned enterprises were discussed.

Companies that agree to participate inproject, will be able to use energy at serious discounts. This approach will allow Iran to become a leader or come closer to the first place in terms of Bitcoin mining capacity.

«The Central Bank of Iran has already reportedwillingness to support us. So far, cryptocurrencies in the country have not been identified as full-fledged tools for making payments, but no one is being prosecuted for their use. In the future, the role of digital assets in the Iranian economy will greatly increase. A promising project in the field of cryptocurrency mining has been in development since last year. We have now entered the phase of actively searching for partners who are ready to work for the good of the country.

Iran’s parliament previously submitted a draft law inwhich will spell out the requirement to register cryptocurrency exchanges at the Central Bank. Digital assets themselves, used without permission, will be considered “smuggling tools”. The local cryptocurrency community reacted negatively to an attempt to take control of the industry.

Cryptocurrency mining officially considered in Iranindustrial activity. In the first six months after the adoption of the relevant law, more than a thousand licenses for work in the relevant industry were issued.

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