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Iran and cryptocurrency mining


Hassan Rouhani addressed the Iranian Economic Coordination Headquarters, with the intention that they elaborate a new national approach for the cryptocurrency mining industry.

Rouhani is an Iranian politician. He also serves as current and seventh president of iran since August 3, 2013.

The Economic Coordination Headquarters

This Coordination is a regional intergovernmental organization established in 1985 by Iran, Pakistan, and Turkey. Its purpose is the promotion of economic, technical and cultural cooperation among all its member states.

The 137th session of the government’s Economic Coordination Headquarters was held on Tuesday under the chairmanship of Hassan Rouhani.

At this seminar, Rouhani indicated to officials of the Central Bank of Iran (CBI), the Department of Energy and the ministries of Information and Communication Technology that:

“They had to come up with a new national strategy for cryptocurrency mining, including its regulation.”

After the meeting of the Government’s Economic Coordination Headquarters, the method for paying foreign currency loans from investors in the electricity industry to the National Development Fund was reviewed.

Obtaining as a result, that the issue must be considered in the specialized commissions for the final solution of the problems and the result must be presented to the government.

Finally, the President emphasized that: “Necessary priorities should be considered in the allocation of foreign exchange, including basic goods

The information on this seminar came out shortly after the Iranian parliament released a bill proposing to apply the country’s strict regulation of currency smuggling to cryptocurrency mining.

Iran and the legalization of cryptocurrency mining

The Economic Commission of the Iranian government is made up of representatives of the chambers of Commerce, Industries, Mines and Agriculture.

On July 22, 2019, a mechanism for cryptocurrency mining was approved.

This decision came after the Iranian government recognized the benefits that companies can bring to the country’s economy.

The Governor of the Central Bank of Iran, Abdolnaser Hemmati, commented on this:

A mechanism for Cryptocurrency Mining has been approved by the government’s economic commission and will be discussed later

The Governor of the Central Bank of Iran, Abdolnaser Hemmati.

Remarkably, Iran is becoming one of the main centers of adoption of cryptocurrency mining.

Both the government and Iranian citizens are increasingly turning to decentralized technology to circumvent the economic blockade.

After this new strategy, will Iran be able to regulate cryptocurrency mining?

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