Iranian Government Proposes Annual License for Bitcoin and Crypto Miners CoinDesk has got documents that details a draft proposal for new encryption money mining regulations in Iran where sources say is on the way to official approval. Based on the proposal translated from the Iranian Cabinet, licensed and registered crypto currency miners will be asked to provide information such as the list of business activities, the predicted value of their investment, the current employment status, rental contracts for the area itself, and value. duration of mining equipment and mining project. The license will need to be renewed each year.
When we step back, the Iranian mining sector has grown dramatically over the last two years, partly due to state-sponsored electricity. For example, for local miners, only one Persian Telegram group has 3,424 members. Based on a survey conducted by more than 1,600 Iranian crypto users by market analysis company Gate Trade, 35 percent of respondents earned income through mining, and 70 percent wanted to learn more about local mining operations.
An anonymous source in Tehran told CoinDesk that most miners he knew were altında under radar ve and imported equipment from the black market without paying taxes. Therefore, the Central Bank of Iran finally recognized the base industry and promised a legal licensing procedure in July 2019. The pending proposal was approved by Iranian Industry, Minerals and Trade Minister Reza Rahmani. Iranian mining licenses will only apply to miners with equipment that requires 30 kilowatts to exclude homemade mining equipment or small operations.
However, another source in Tehran, an avid bitcoiner, told CoinDesk that it supports this move because it could provide the basis for a sustainable mining industry in the country. For example, if too many miners apply in a single region, authorities may encourage miners to distribute their activities throughout the region. On the other hand, he still does not believe that this legislation will completely reduce the hobby of miners joining the bitcoin community. A third source in Tehran told CoinDesk that he expects Iran to become one of the world’s largest players in the bitcoin mining industry next year.