Iranian ministry provides thousands of licenses for cryptocurrency mining

The good news for the cryptosector, Iran has more than a thousand licenses have been issued for the mining of cryptocurrency. According to a recent press release (use Google Translate). The news comes from Amir hossein Saeedi Nai (netherlands architecture institute), a member of the ICT Guild Organization, Iran.
It has been in place since August 2019 and are legal for cryptocurrency to mine with Iran, but only with a permit from the government. There are, to date, more than a thousand have been issued.

Miners pay for the higher cost of energy in Iran

However, the mining of cryptocurrency, it is still a complicated issue in Brazil. Amir Hossein Saeedi, in an interview with the IBENA, ” Our studies show that the mining of crypto-more than 8.5 billion dollars to the Iranian economy. However, high cost and stringent regulations are making the industry less attractive to the smaller investors.’
Access to electricity is spoken, in the past year, the Iranian government is the new cost of energy for the miners. They will now have to 0,07 dollars paid per year. Considerably more expensive than it is for individuals, this is only 0,009 dollars per year.
The increase in the energietarief for cryptocurrency miners will not come out of thin air. According to the spokesman of the Iranian ministry of Energy, the mining of bitcoin is energy-consuming. In an interview in June last year: “The consumption by seven per cent this month. A large part of this unusual increase was due to the mining of bitcoin.’
There is every sign that the Iranian government is that the cost of energy increases to the mining of a cryptocurrency is less attractive. However, there is good news, in the meantime, though, more than a thousand licenses have been issued by the state government.

Trade bitcoin low of the past couple of days

This is a good news to tell you, but the trading volume of bitcoin is still in the Iranian market. Last week, for 432 million Iranian rial to bitcoin is bought and sold on LocalBitcoins. That seems like a lot, but it’s going to 11.643 to the euro. With the share price now is less than 1.5 bitcoin.

Iran Is busy with its own cryptocurrency?

Last year, there were rumours that Iran is working on is said to be its own cryptocurrency in order to be less dependent on the usa. Or is it that there really is remains to be seen. Of course, it is a lot more interesting, more and more central banks will want to take a digital currency will develop.

About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

Do NOT follow this link or you will be banned from the site!