Iran's Energy Minister Wants Crypto Miners Charged Real Electricity Prices
Authored by Ana Alexandre via CoinTelegraph.com,
The deputy energy minister of Iran has said that electricity bills for digital currency miners should be calculated in accordance to real prices, Iranian economic daily newspaper Financial Tribune reported on June 9.
image courtesy of CoinTelegraph
Iran’s deputy energy minister, Homayoun Haeri, has stated that electricity bills for cryptocurrencymining activities should be priced according to the same rates established for power exports. The government reportedly pays nearly $1 billion in subsidies annually to bridge the gap in real electricity costs and what consumers are billed, Financial Tribune writes.
As reported last December, Iranians were profiting from digital currency mining despite the crash in the crypto markets and fluctuations in the national rial currency caused by reinforced United States sanctions.
Iran had demonstrated a positive stance towards crypto mining last September, when major government authorities — including the Ministry of Information and Communications Technology, the central bank, the Ministry of Energy, and others — accepted crypto mining as an industry.
At the time, the Secretary of Iran's Supreme Cyberspace Council stated that the Iranian National Cyberspace Center was developing a platform for cryptocurrency mining regulation, while the relevant authorities considered the development of crypto mining-related regulatory framework.
In an attempt to gain economic stability in the country, the Iranian government has also been considering the launch of its own state-backed cryptocurrency. In August of last year, Iran’s National Cyberspace Center revealed that the draft of the government-backed crypto project was ready, following instructions from Iranian President Hassan Rouhani.
A recent Cointelegraph analysis looked at the changing attitudes of the government towards cryptocurrencies, as well as how it affects Iranian crypto users.
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The Iranian people are suffering quite a bit under sanctions. Hopefully the Trump administration can make a deal with the Iranian administration..
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Governments are really getting in on crypto much these days. This is rather bad as it will tl on the mass adoption the space needs. With this news, what will become of minning and how will people take it in that country? Am just wondering. Well, am sticking with minning Monero and Veil. They are still good picks for me now.
Well, I hope to cash out well from cryptocurrency before the government restrictions gets to my country. Am enjoying my assets now. Ethereum, Bitcoin and Veil on the move and am so excited.
I agree that a profitable activity has different conditions than an unprofitable one, like "home". What should be sought is consensus, based on the profitability of the miners. I am a miner ...
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