Iran to prepare bill to centralize and regulate cryptocurrency use

Iranian lawmakers recently drafted a bill to “support cryptocurrency mining and organizing the domestic market for exchanges.”

The plan involves making the Central Bank of Iran the primary regulatory body regarding the domestic exchange of cryptocurrencies within three months. This includes plans to prohibit the exchange of any cryptocurrency within the country, aside from a national one, as means of payment.

A particularly interesting section of the bill states that domestic crypto miners will be controlled by the Ministry of Industry. Miners must be granted a license from the ministry to operate, as well as a license from the Energy Ministry to construct power plants required to run their operations- which allegedly caused blackouts by draining the city of its electricity supply in May.

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