Iran is moving towards the creation of its national crypto
The Iranian government has recognized the digging/harvesting of crypto for legitimate activity.
Analysts say this is a step towards creating an Iranian national virtual currency.
The news raised the price of Bitcoin to record levels of crypto exchanges operating on Iranian territory.
According to the IBENA news agency, which contacts the Central Bank of Iran, Abboshan Firusabadi, secretary of the Iranian Supreme Council on Cyberspace, said the digging/harvesting of crypto is "accepted as a government industry," CoinDesk writes.
According to him, the decision came after consensus among the other state agencies concerned, such as the Ministry of Communications and Information Technology, the Central Bank and the Ministry of Economy and Finance, but the decision is not legalized definitively.
The move to recognize virtual currency digging for legal action comes amid the country's efforts to create its own, central bank-backed, virtual currency to bypass US sanctions.
Firuzabadi adds that the national crypto remains a "promising" instrument for realizing financial transactions with Iran's trading partners after Donald Trump's Cabinet restored sanctions over the country to cut Iranian access to the US currency.
Authorities will define the legal framework and final regulation on trade and crypto operations by September this year.
In July it became clear that investors in crypto in Iran are facing restrictions because authorities have blocked users access to their profiles in online exchanges such as Binance.
After publishing the news, the cost of a Bitcoin on some Iranian exchanges, such as Exir, reached $ 24,000 cosmic, thus overtaking the world's highest cost of Bitcoin, namely $ 20,000 at the end of last year.
For comparison, the international cost of the Bitcoin at the time of preparing the material amounts to 6,402 dollars, according to CoinMarketCap data.
However, according to alternative views, the cost of a Bitcoin in Iran has jumped so much because of the volatile price of the Iranian national currency.
image source - Instagram
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