The Iranian government has approved cryptocurrency mining as an industrial activity

At a cabinet meeting hosted by President Hassan Rouhani on Sunday, the Iranian government has approved cryptocurrency mining as an industrial activity and pointed out that the relevant personnel should obtain the necessary permits from the Ministry of Industry and Mines. According to the decision, the person using the cryptocurrency should accept the risk and the government and the banking system will not provide any guarantee for it. The decision also stated that digital currency is not allowed to be used in domestic transactions. As with other industrial activities, mining should also be taxed unless the individual exports the cryptocurrency and brings the income back to the country. This is considered to be the first step in the legalization of Iranian cryptocurrency. Some experts believe that cryptocurrency can be used to mitigate the impact of the United States on severe economic sanctions against Iran.