Positive signal for Iran crypto market

The Governor of the Central Bank of Iran (CBI) told PressTV that the authorities are planning to authorize the cryptomonade mine.

CBI governor Abdol Hemmati argued that the Iranian government has approved parts of an executive law that would authorize the exploitation of cryptomonas such as Bitcoin in Iran.

As Hemmati explained, the planned law will require Iran’s crypt mining companies to pay for the electricity used at the export price. For domestic consumption, the price of electricity is extremely low due to subsidies.

According to the report, Iran exports energy to neighboring countries at prices 40-100% higher than those it provides internally.

A positive signal for the crypto market

Hemmati’s statement comes after a long period of uncertainty about the legal status of the cryptomonas in Iran.

According to unconfirmed rumors, some Chinese miners have moved their operations to Iran because of low electricity prices.

Hemmati said that in this way, cryptomonas miners in Iran should contribute to the country’s economy. He also added that the CBI will not authorize any currency whose values ​​are “decided” by the price of national currencies or gold.

His statements are a positive signal for the crypto market in Iran. Previously, the Iranian government seized about 1,000 Bitcoin mining equipment from two farms. The decision was justified by abnormal electricity consumption that affected the local network.

On July 8, the CBI Deputy Governor of New Technologies said the acquisition and sale of cryptomonas are illegal in Iran because they violate anti-money laundering laws.