Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Iran Starts Issuing Crypto Mining Licenses

Iran Starts Issuing Crypto Mining Licenses

Kelly Cromley by Kelly Cromley
Sep 5, 2022
in Bitcoin News, Market News, News
Reading Time: 2 mins read
0

The Iranian government has reportedly began issuing licenses to crypto miners in compliance under the latest “comprehensive and exact” legislative structure enacted the week before. Earlier, the procedure of awarding licenses to different cryptocurrency mining businesses was halted owing to power consumption and unlawful mining issues.

As per local news outlets, Reza Fatemi Amin, Iran’s Minister of Industry, Mine, and Trade, said that his agency is now authorized to begin granting mining licenses. During a conference days ago, the Iranian government reportedly established a set of “full and exact” crypto laws, which encompass mining standards. According to government laws, organizations that want to mine crypto assets may seek an operating license and an organization license.

RelatedPosts

MovieDOM Reimagines Entertainment with a Decentralized Vision

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

Mohsen Rezaei Sadrabadi, the secretary of the government’s task force on cryptos, presented some details about the latest approved legislative structure for governing cryptos, along with the assertion that mining companies can now submit applications for a license and utilize the cryptos they generate to settle import bills.

Before a corporation can start crypto mining in Iran, it must initially get both an operating license and an establishment license. The operating license proves that the entity a genuine miner of bitcoin, while the second grants it permission to commence mining.

The Ministry of Industry, Mines, and Commerce is responsible for issuing licenses to crypto miners, he noted, noting that the revamped legal framework addresses large-scale cryptocurrency mining activity. Furthermore, there are restrictions governing the mining industry’s power usage, with an emphasis on sustainable power.

Rezaei Sadrabadi said that the state has designated the central bank as the primary regulator of the business. Nevertheless, he believes that because the cryptocurrency sphere encompasses much more than cryptos, the sector’s governance should be multidimensional and not under the hands of a single authority.

Three years back, the Iranian government legalized crypto mining as a business, but the country’s central bank barred crypto. After the formation of a controlled framework, cryptocurrency miners were compelled to get a license, reveal themselves, pay higher power rates, and deliver their Bitcoins straight to the government. In July, Iran modified several regulations to make it easier for crypto miners to obtain renewable power.

In December 2021, the Iranian government ordered authorized crypto miners to temporarily suspend activities as harsh weather had a significant influence on the country’s electrical system during the winter months. Back I n May, the country’s electrical utility imposed a four-month prohibition on cryptocurrency mining, which was eventually lifted when permitted cryptocurrency mining centers voluntarily ceased operations to cut power consumption.

As per the previous regulatory framework, Iran granted over a thousand mining licenses. In May, the Iranian government announced the dismantling of 6,914 illicit cryptocurrency mining enterprises. The Iran Power Generation, Distribution, and Transmission Company (or Tavanir), claimed that more than 85 percent of the nation’s energy usage was utilized for illegal crypto mining. Since March, over 10,000 pieces of illegal mining hardware have been confiscated.

Previous Post

Chainlink VRF Received Blockchain Certification (GLI-19) from BMM

Next Post

Bank of Russia to Legalize Cross-Border Crypto Remittance

Related Posts

moviedom reimagines entertainment with a decentralized vision

MovieDOM Reimagines Entertainment with a Decentralized Vision

by Kelly Cromley
May 18, 2025
0

The entertainment landscape is witnessing a major transformation with the launch of MovieDOM, a blockchain-powered platform that promises to revolutionize...

cdari and laika ai unite to strengthen web3 e-commerce

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

by Kelly Cromley
May 18, 2025
0

CDARI, a Web3 e-commerce platform operating on the AI-powered Layer 2 network Matchain, has officially announced a strategic collaboration with...

funtasy joins aptos: a new era for blockchain game launches

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

by Kelly Cromley
May 18, 2025
0

The Aptos Blockchain ecosystem recently expanded with the integration of Funtasy, a fantasy gaming platform focused on streamlining blockchain game...

palmistry meets web3: sft blockchain taps ai for digital self-discovery

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

by Kelly Cromley
May 18, 2025
0

In a recent announcement shared on social media platform X, the SFT Blockchain revealed a strategic alliance with PalmCode, a...

solv protocol launches yield-bearing btc token on avalanche

Solv Protocol Launches Yield-Bearing BTC Token on Avalanche

by Kelly Cromley
May 17, 2025
0

Solv Protocol has taken a major step in expanding the utility of Bitcoin by introducing a yield-generating token—SolvBTC.AVAX—on the Avalanche...

david goyer unveils web3 sci-fi universe ‘emergence’

David Goyer Unveils Web3 Sci-Fi Universe ‘Emergence’

by Kelly Cromley
May 17, 2025
0

Renowned filmmaker David Goyer, best known for his screenwriting work on the Blade trilogy, The Dark Knight, and Apple’s Foundation...

Next Post
Bank of Russia to Legalize Cross-Border Crypto Remittance

Bank of Russia to Legalize Cross-Border Crypto Remittance

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • XRP Ledger Embraces Precious Metal-Backed Stablecoins with Meld Gold Partnership

    by Kelly Cromley
    Oct 2, 2024

Recent News

moviedom reimagines entertainment with a decentralized vision
Market News

MovieDOM Reimagines Entertainment with a Decentralized Vision

by Kelly Cromley
May 18, 2025
cdari and laika ai unite to strengthen web3 e-commerce
Market News

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

by Kelly Cromley
May 18, 2025
funtasy joins aptos: a new era for blockchain game launches
Market News

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

by Kelly Cromley
May 18, 2025
palmistry meets web3: sft blockchain taps ai for digital self-discovery
Market News

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

by Kelly Cromley
May 18, 2025
solv protocol launches yield-bearing btc token on avalanche
Market News

Solv Protocol Launches Yield-Bearing BTC Token on Avalanche

by Kelly Cromley
May 17, 2025

Categories

  • Altcoin News
  • Analysis News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree