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Yesterday, the Secretary of the Supreme Council for cyberspace of Iran said that several ministries of the country agreed to recognize the mining of cryptocurrencies as a separate industry, writes the local news Agency IBENA.
According to the publication, Secretary Abolhasan Firoozabadi stressed that the mining of crypto-currencies, such as bitcoin, was recognized as an independent industry by leading government agencies. However, the legislation according to which cryptocurrency mining activities will be regulated has not yet been submitted.
According to Firoozabadi, cryptocurrency mining has been recognized by the Ministry of information and communication technologies, the Central Bank, the Ministry of industry, resources and trade, the Ministry of energy and the Ministry of economy and Finance.
Firoozabadi said that the national cyber security Center of Iran is developing a platform to regulate the mining of cryptocurrencies, adding that the government is considering launching a national cryptocurrency, which will become a tool for settlements with business partners against the background of economic pressure exerted by us sanctions.
The regulatory framework for cryptocurrency companies is expected to be unveiled this month. In late August, the center for national cyber security of Iran reported that it has completed the development of legislation for the commissioning of the national cryptocurrency in accordance with the order of President Hassan Rouhani.
This statement on the legalization of mining has launched a spontaneous growth of the local bitcoin market. Iranians just overnight raised the rate of the first cryptocurrency on the local exchange to 26 thousand dollars. In Iran, bitcoin is trading about 4 times higher than the market average.
The currency of Iran is rapidly losing in price-experts believe that the Iranian economy can "get sick" hyperinflation, like what happened to Venezuela.
Thus, the unfavorable economic situation, coupled with the green light that the Iranian government gave to crypto – currency miners, apparently, was enough for speculators to imagine a world where bitcoin is a more stable and valuable currency than the Iranian Rial.
According to the Iranian EXIR exchange, bitcoin is still trading at the level of 20 thousand dollars. Earlier today, bitcoin was traded on the exchange at about the level of 109,200,000 rials. At that time it was equivalent to 26 thousand us dollars.
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It is well known that cryptocurrency rates can vary widely on different cryptocurrency exchanges, but what is more interesting is when it all happens. The growth rate of bitcoin in the Iranian market occurred simultaneously with a large drop in the global rate of the first cryptocurrency – at a time when the bitcoin market was faced with the threat of the "sink the whales" (from the English. "whale dump", refers to a situation where a person or group of persons own a large number of coins and use them to manipulate the course) and the mass" capitulation " of investors.
Iran is experimenting with to create their own national cryptocurrency on the analogy of the Venezuelan "petro". All these factors did not prevent, but, on the contrary, only contributed to the sharp and serious growth of the Iranian bitcoin market.