Jul 22, 2019, 6:48 PM

Govt. recognizes cryptocurrency industry official: MP

Govt. recognizes cryptocurrency industry official: MP

TEHRAN, Jul. 22 (MNA) – Elyas Hazrati, head of economic commission of Iranian Parliament informed Mehr news agency that in its latest meeting, government’s economic commission has announced crypto trading an official industry in the country.

As the MP said, in the commission's meeting, ICT officials besides those from finance ministry and passive defense organization were present.

He said that “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.”

“In the meeting, some related issue to digital money industry were discussed and as decided, cryptocurrency is now recognized official by the government, and the power prices are decided to be equal to exported electricity prices,” he added.

“By generating cheap electricity, we can provide the required power for digital money miners in the country,” Hazrati said, “The gained income can be used for purchasing foreign exchanges under US sanctions to remove the difficulties we are faced with.”

Addressing the concerns expressed by Iranian security bodies about digital money in the country, the MP said “they were worried about depreciation of national currency, loss of people’s assets and flow of forex abroad due to the high fluctuations of cryptocurrency.”

HJ/ 4673219

News ID 147938


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