The Iranian government acknowledged encryption currency Bitcoin mining cause local cost more than twenty thousand dollars

The Iranian government has seen cryptocurrency mining as a legitimate activity as part of its efforts to introduce a national cryptocurrency – a move that has caused Bitcoin prices to rise to record levels on local exchanges.

According to Iran’s central bank subsidiary bodies IBENA of the message , the secretary of Iran’s Supreme cyberspace Committee Abolhassan Firouzabadi said on Tuesday, encryption monetary mining ” has been accepted by the government as a legitimate industry”.

Iran is working hard to create its own central bank digital currency as a means of escaping US economic sanctions.

Firouzabadi added that the National Cryptographic Currency is still a ” promising ” tool to facilitate financial transactions with Iranian trading partners as the Trump administration restricts Iran from obtaining US dollars.

Regarding cryptocurrency trading activities, the official further stated that “the decision-making body will announce the framework and final policy of the startup in the field of cryptocurrency by September, but has not yet made a clear decision. 

In July of this year, Iran’s cryptocurrency investors appeared to face restrictions from the government. Even with virtual private networks or VPNs, users could not access the accounts of exchanges such as the currency security.

After the country admitted to crypto mining, bitcoin prices on some local exchanges such as Exir reached more than24,000 – more than the historical average of $20,000 in December – and yesterday’s prices were around $ 7,000 .

[su_quote]This article is writing on 07 Sept 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258[/su_quote]

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