Iran Begins Licensing Crypto Mining Under the New Regulatory Framework

According to reports, the Iranian government has begun awarding licenses to crypto miners by a new, “complete and precise” legal framework that was authorized last week. The procedure was put on hold due to power usage and problems with illegal mining, even though the government had already awarded permits for several crypto mining firms. Iran Permits Crypto Mining During a meeting last week, the Iranian government approved a set of “complete and extensive” crypto rules, including guidelines for mining. Reza Fatemi Amin, Iran’s Minister of Industry, Mines, and Trade, claimed that local media had reported that his department was now able to grant permits for crypto mining. Before a company in Iran may begin mining cryptocurrency, it must get an installation and an operating license. The first makes the entity a legitimate cryptocurrency miner, while the second gives it the go-ahead to begin mining. Mohsen Rezai Sadarabadi, Secretary of the Government’s Working Group on Cryptocurrencies, provided some information about the recently approved regulatory framework for cryptocurrencies. He said mining facilities can now apply for licenses and use the cryptocurrency mined to pay for imports. He added that the new legal framework has laws that extensively address crypto mining operations and that the Ministry of Industry, Mines and Trade is responsible for licensing crypto miners. There are also plans to supply energy to the mining se...