BlocksInform
In accordance with the Central Bank of Iran's authorization for banks and currency exchangers to use cryptocurrencies mined by licensed crypto miners in the country to buy goods, including imports. While a bill is in the works to provide regulatory clarity regarding crypto-related activities, the Central Bank of Iran has announced that banks and licensed currency exchangers may use cryptocurrency mined by licensed crypto miners to pay imports, the Financial Tribune reported on Saturday.
It said:The central bank has informed lenders and authorized currency exchanges about the regulatory framework for crypto payments. Last October, the Iranian government amended cryptocurrency regulation so that the central bank could use bitcoins mined in the country to fund imports.
Crypto miners are required to sell their coins directly to the central bank. Iranian officials proposed the initiative along with the Ministry of Energy. Iran has provided millions of licenses to crypto miners, including one to Turkish bitcoin mining giant Iminer.
The central bank says that lenders and licensed currency exchange offices have been notified about the regulatory framework for crypto payment.
In October last year, the Iranian government amended its cryptocurrency regulation to enable the country’s central bank to fund imports with bitcoin legally mined in the country. Licensed crypto miners are required to sell their coins directly to the central bank. We are drafting a bill that will define the obligations of administrative bodies referred to by the Tasnim News Agency.This new directive for using cryptocurrencies to pay for imports will be laid out by the central bank.what do you think about it?
Iran has issued over 1,000 licenses to crypto miners, including one to the Turkish bitcoin mining giant Iminer. Power plants in Iran are allowed to mine cryptocurrencies and bitcoin miners have been granted exclusive access to electricity generated from three of them. In January, Iran shut down 1,620 illegal crypto mining farms.
These are not offers to buy or sell, or advice as to which products, services, or companies should be commended or endorsed.
Bitcoin.com does not offer investment, tax, legal, or accounting advice.
There can be no liability, directly or indirectly, based on the content, goods, or services mentioned in this article if they are used and used by the wrong person.
Show comments In the meantime, Mohammadreza Pourebrahimi revealed that the Iranian economic commission has done a comprehensive examination on crypto activities in Iran and will present its findings next week. . Iran has allowed banks and currency exchangers to pay for imports with cryptocurrencies mined by in-state crypto miners.
Quantum Fund Cofounder Jim Rogers Insists Governments Could Ban Cryptocurrencies
SEC Commissioner on Banning Bitcoin: 'It's Very Difficult to Ban Peer-to-Peer Technology'
Tags in this story
Image Credits: Shutterstock, Pixabay, Wiki Commons
Use Bitcoin and Bitcoin Cash to play online casino games here.
Disclaimer: A crypto miner must sell his coins directly to the central bank. Tehran's CBI and Ministry of Energy proposed the measure. Iran has granted over 1,000 licenses to crypto miners, including one to Turkish bitcoin mining giant Iminer. Bitcoin.com does not provide investment, tax, legal, or accounting advice. In January, Iran closed down 1,620 illegal crypto mining farms.
