The Central Bank of Iran (CBI) has prohibited the trading ofand other cryptocurrencies mined outside the country, according to a report from news outlet Iran International.
At first glance, the move is a formality, as Iran had already effectively banned open trading of cryptocurrency. However, it may signal the intent of Iranian regulators to counter the removal of capital from the country.
Oil and natural gas deposits make Bitcoin mining in energy-abundant Iran relatively cheap and lucrative. Since legalizing cryptocurrency mining (but not trading) in 2019, Iran has looked to regulate the industry to its advantage.