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Rouhani Administration To Legalize Cryptocurrency Mining

IRAN -- A photo provided by the Police News Agency, shows boxes of machinery used in Bitcoin "mining" operations that were confiscated by police in Nazarabad, undated

The Rouhani Administration’s Economic Commission has legalized cryptocurrency mining, Iranian media reported on Tuesday July 23, quoting Economy Minister Farhad Dejpasand.

Dejpasand told reporters that the administration recognizes cryptocurrency mining and allows the import of bitcoin mining machines.

However, the matter needs to be discussed at a cabinet meeting, he said.

Earlier in July, the Iranian Judiciary had said that cryptocurrency mining is legal but people need to get a license for it.

However, the Central Bank which is part of the Rouhani administration had strongly opposed the idea and called for a ban on cryptocurrency mining.

The reason for the change of mind among members of the Rouhani administration is still not known.