Iran Will Lift Mining Ban in September

IRAN: Crypto and Bitcoin miners have reason to celebrate once again. Iran has just announced that the country will allow miners to operate, starting September.

Iran’s Financial Tribune shared a report that states that the country’s power generation organization Tavanir made the decision earlier in August. Previously, Iran’s government had banned bitcoin mining operations with many crackdowns taking place. At that time, it was noted that the decision was to discourage miners from consuming energy during the hot summer months.

In fact, bitcoin has been majorly at fault for the country’s recent energy woes, as per the latest reports. This was also the reason why Iran paused electricity exports to neighbour Afghanistan.

In 2020, Iran started legalizing Bitcoin mining. In the same year, the country issued over 1,000 crypto licenses. But as of now, the government expects BTC and crypto mining to play a key role in the country’s economy.

In addition, the government’s new crypto laws could set a significant expansion in scope with the country’s tax agency that lately calls for a legal structure for crypto trading activities.