Iranian Government Equates Mining to Industries

The Iranian government has recognized mining as a separate type of industrial activity. This legalized mining, but now mining companies must obtain a license to work in the country.

A report by the Mehr news agency states that the decision was made this weekend during the Sunday meeting of the Cabinet of Ministers chaired by Iran’s President Hassan Rouhani. Now that mining has been officially authorized, organizations involved in this activity will have to request a license from the Ministry of Industry, Mining and Trade of Iran.

Mehr argues that many experts interpret this decision as the first step towards legalizing cryptocurrency in Iran, noting the potential use of an asset class to counteract the devastating effects of US sanctions against the country.

However, according to the government’s decision, the use of cryptocurrency for internal operations remains outlawed and that those engaged in this industry should be responsible for risks without any guarantees from the government or the local banking sector. This was also recently announced
Deputy Chairman of the Central Bank of Iran.

Recently, the Iranian Economic Commission introduced special tariffs for electricity for miners, and now they are being approved by the Iranian Cabinet of Ministers. Earlier this month, it was also reported that Chinese miners became interested in
By Iran.