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April 27, 2021 06:21
| Update:
April 27, 2021, 06:21
The Central Bank of Iran has authorized banks and money changers to use cryptocurrency mined by licensed crypto miners in the country to pay for imports. A bill is currently being drafted to provide regulatory clarity regarding encryption-related activities.
Pay import fees through cryptocurrency
The Financial Tribune reported on Saturday that the CBI announced that banks and licensed money changers can use cryptocurrencies mined by Iranian licensed crypto miners to pay for imports. The publication defines:
The central bank said that lenders and licensed currency exchange offices have been informed of the regulatory framework for crypto payments.
In October last year, the Iranian government revised its cryptocurrency regulations to allow the country’s CBI to fund imported goods through BTC officially mined in the country. Licensed crypto miners are obliged to sell their coins directly to the central bank. This measure is the future of CBI and the Department of Energy.
Iran has issued more than 1,000 licenses to crypto miners, one of which has been assigned to Turkish Bitcoin mining giant Imner. Iran’s power plants can mine cryptocurrency, and BTC miners have been determined to obtain advanced power from three of them. In January, Iran closed 1,620 illegal crypto mining farms.
The head of the Economic Committee, Mohammadreza Pourebrahimi, temporarily believes that the committee has conducted a comprehensive inspection of Iran’s cryptocurrency activities and will announce its consequences next week.
Tasnim News Agency quoted him as saying: “We have enacted a bill that proposes a new type of cryptocurrency-related activity mechanism.”
The bill will describe the duties of the administrative agency, ie. Central Bank of Iran, Ministry of Industry and ICT, Energy and Economy.
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