Iranian tax authority urges legalisation of crypto exchanges

The Iranian National Tax Administration (INTA) has called for a legal framework for taxing cryptocurrency exchanges operating in the country. Local СМИ report.

“Legalisation of crypto exchanges is necessary [for tax collection]. Legal operations should be restricted to authorised exchanges that are allowed to convert currency, tracking transactions,” the publications quote the department’s proposal.

INTA argues that harsh measures against crypto trading platforms are counterproductive and create conditions for the black market.

As the basis for taxation, INTA proposes using exchange transactions. The rules should include penalties and legal consequences for platforms that refuse to provide the authorities with data on user transactions, the department emphasised.

INTA proposed three taxation options:

• capital gains tax;
• a fixed base tax;
• professional tax.

The agency also proposes restricting operations with decentralized platforms in line with anti-money laundering rules.

Back in June 2021, the president urged as soon as possible to develop a regulatory framework for cryptocurrencies.

In 2019 the Iranian authorities recognised mining of digital assets as an industrial activity, and in 2020 they introduced licensing in the industry.

In June 2021, local media reported that the Ministry of Industry of Iran allowed the operation of 30 companies for cryptocurrency mining. However mining in the country was prohibited until September due to power-supply problems.

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