In Iran’s parliament, a bill has been prepared that would ban the use of all cryptocurrencies as a means of payment within the country, with the exception of the national currency. This is reported by Tasnim.
Under the proposal, the central bank would regulate the domestic digital-asset market.
The Ministry of Industry, Mines and Trade will continue to oversee the mining industry and issue licences for the creation of mining farms.
Since 2020, the agency has been issuing licences to miners, after the government introduced mandatory registration for them. Iran recognised cryptocurrency mining as an industrial activity in 2019.
The bill provides that Iranian miners will be able to obtain from the Ministry of Energy permits to open or participate in the construction of power plants. It is envisaged that they will be able to sell excess energy produced.
In May 2021, authorities banned mining until September due to electricity shortages.
In April, the central bank allowed local financial institutions to use domestically produced cryptocurrencies to pay for imports. Later the regulator confirmed a ban on transactions involving crypto assets mined abroad.
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