Iran’s government officially acknowledges cryptocurrency as an industry
- Cryptocurrencies were discussed within Iranian government, to accommodate more crypto activity.
- The government acknowledged it as an official industry, with suggestions the country are keen to exploit as means to bypass sanctions somewhat.
Iran’s Head of the Economic Commission, Elyas Hazrati, was speaking within the Iranian Parliament and has indicated that the government’s intentions going ahead with allowing cryptocurrency activity. Speaking rather confidently after a meeting with officials with ICT officials, the finance ministry and the passive defense organization,
Hazrati said:
We do believe that cryptocurrency industry should be recognized as an official industry in Iran to let the country take advantage of its tax and customs revenues.
There are strong suggestions that is very much a primary motivation to alleviate the weight of sanctions imposed by the U.S., the news arrives in tandem with the government loosely establishing energy rates for cryptocurrency mining.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
