Iran’s President ordered to develop a national strategy of kriptomayning

Президент Ирана распорядился разработать национальную стратегию криптомайнинга

The Iranian President has instructed the officials, representatives of the Central Bank and the Ministry of energy, communications and it to develop a national strategy of the mining of cryptocurrencies.

This was reported by Iranian news site ArzDigital may 22. The report said that the disposal of the officials were issued during the 137th meeting of the economic coordination staff of Iran under President Hassan Rouhani, in the beginning of this week.

Events occurring after the Iranian government announced a new policy for the denomination of Fiat currency, the Rial, in an attempt to overcome chronic inflation.

Earlier this week Iran took the decision to incorporate cryptocurrencies in their rules of exchange of foreign currency and counter currency smuggling.

This leads to the fact that cryptocurrencies, licensed by the Central Bank of Iran, will be subject to existing regulatory standards for foreign currency transactions in the period of the emergency outflow of capital from emerging markets, with a global pandemic.

Also this week, the Central Bank of Iran and the domestic exchanges have agreed to cooperate to stabilize foreign exchange market, including provisions on the use of digital currencies, where it is necessary to facilitate the exchange and return of export currency.

The crisis caused by the coronavirus, which is aggravated by the constant regime of sanctions, caused a drop in the national economy, to 9.5% in 2019 and increased by the increasing level of youth unemployment to 17.8%.

While further details of the national strategy of the mining of cryptocurrencies Iran have not yet been clarified, Iran has issued about 1,000 licenses to crypto currency miners in the country and gave permission for object creation in 6000 devices for cryptocurrency mining Turkish company iMiner in the province of Semnan early this month.

In July 2019 the government of Iran recognized cryptocurrency mining as an industrial activity.

Amid a difficult economic climate General of the Islamic revolutionary guard Corps appealed to the citizens with calls to use crypto-currencies to bypass the sanctions regime of the United States.

President Rouhani himself called for the creation of alternative currencies, potentially digital to ease the sanctions.