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Iran: What will happen to the crypto mining ban?

Iran

After crypto mining facilities in Iran were required to stop all their activities in May, they are expected to resume operations in September.

As previously mentioned by Coin-ed, Iran banned crypto mining during the summer season because of the lack of rain during these months. Unlicenced mining was creating many issues with the electricity supplying of the citizens. 

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The Iran Power Generation, Distribution and Transmission Company (Tavanir) announced that the ban will be officially lifted on September 22. Mostafa Rajabi Mashhadi, a spokesman for the institution, stated that the government is hopeful that the end of summer will allow the resuming of mining operations.

Iran is currently trying to regulate crypto. Its latest effort was announced at the beginning of August. The Iranian National Tax Administration (INTA) stated that the government should collect taxes from crypto exchanges, and only the authorized ones should be permitted to operate in the country.

iran and crypto. Because mining. so that is it. but not enough

(INTA) has formulated a draft proposal that will be presented to the regulatory bodies. The tax authority is pushing them to legalize crypto trading platforms that are currently operating in Iran. “Regulations must include penalties and legal consequences for legal exchanges refusing to provide users’ records to INTA.”

“Legalizing crypto exchanges is necessary [for levying tax]. Legal operations must be limited to authorized exchanges that are allowed to convert currency while keeping track of transactions.”

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