Hassan Rouhani who is the current President of Iran is calling for a new strategy for cryptocurrency mining and therefore has ordered the national government to plan a new national cryptocurrency mining strategy. According to a report from the Iranian news website ArzDigital, the Iranian President has emphasized to make the mining strategy as soon as it is possible.
The Country needs to spur a National Crypto mining strategy
Iran is currently under the US sanctions and the Iranian President thinks that country’s economic condition needs to prosper well during these sanctions. And the country severely needs a national cryptocurrency mining strategy.
Therefore, Hassan Rouhani says while talking to officials from the Central Bank of Iran (CBI), energy department and information and communication technology ministries during the 137th session of Iran’s economic coordination headquarters that they should immediately have to create a strategy for cryptocurrency mining.
Officials have been told to lay a special focus on crypto regulations and regulatory policy and estimation for mining revenues. This clearly shows that the Iranian government is clearly taking cryptocurrency mining into serious consideration.
Iran considers crypto mining operations a legitimate industry
The Iranian government is already taking interest in the cryptocurrency. Last year in July 2019, Iran regarded cryptocurrency mining operations as an official industry and had recognized it as a legitimate industry. Those crypto farms that have agreed to show cooperation with the Iranian government have already been provided with legal licenses by the government. Reportedly, approximately one thousand mining operations throughout the entire country have been legally licensed by the lawmakers of Iran and they are successfully operating now.
If we talk about the global Bitcoin (BTC) hash rate, the share of Iran is 4% in the world’s total bitcoin hash rate and since the start of Sep last year, it has doubled.
The Iranian government has been keeping a close eye on digital currencies and now the Iranian president wants to have a close look at crypto mining operations and is calling for a proper well-researched national strategy for cryptocurrency mining.