Iran Opens First Ever Bitcoin Exchange in the Country
BTXCapital, the first bitcoin exchange to open in Iran, will be bringing the cryptocurrency to a previously untapped market. The company will will offer instant deposits and real-time buy and sell orders to users in the country through Draglet's exchange platform. Bitcoin regulation in Iran is still an unresolved issue, although the bitcoin exchange noted that there is an increase in demand for a remittance service in the country. The cryptocurrency could be the perfect vehicle, as it promises lower transaction fees compared to conventional forms of money transfer. Bitcoin Exchange in....
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Authorities in Iran have revised some rules for the crypto mining industry in order to facilitate its access to green power. Licensed miners will now be able to purchase electricity produced from renewable sources from across the country at lower rates.
Cryptocurrency Miners in Iran Allowed to Source Green Energy From Across Country
Iran’s Ministry of Energy has changed certain crypto mining regulations to ease access to renewable power for entities authorized to mint digital currencies in the Islamic Republic.
A recently issued decree relieves miners from the....
Iran’s ICT minister has made a proposal that the Persian Gulf island of Kish should be transformed into a crypto exchange hub. Kish is an island off the Persian Gulf coast in Southern Iran, and it hosts one of the country’s free trade zones. Muhammad Javad Azari Jahromi, Iran’s information and communications minister, made the […]
On Jan. 29, the governor of the Central Bank of Iran Valiollah Seif officially announced during a national television interview that the US dollar will no longer be used within the country as a response to US President Donald Trump’s controversial temporary travel ban on certain countries including Iran. According to the official statement of the Iranian central bank and Seif, the government intends to terminate the usability of US dollars in Iran and replace USD with a stable reserve currency that is more frequently used in foreign trades. Currently, the central bank of Iran are exploring....
Iran has drafted new rules to increase penalties for illegal cryptocurrency mining in the country, including additional fines and imprisonment. “Any use of subsidized electricity intended for households, industrial, agricultural, and commercial subscribers for mining cryptocurrency is prohibited.”
New Penalties for Illegal Cryptocurrency Mining in Iran
An official with Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) said the country’s administration will approve new rules to increase penalties for unauthorized....
A recently established crypto industry association in Iran has commenced activities under the country’s chamber of commerce. Its management hopes to help remove obstacles challenging its members while facilitating the implementation of blockchain technology in the sanctioned nation’s economy. Industry Association to Address Blockchain-Related Challenges in Iran The newly-established Iran Blockchain and Cryptocurrency Association (IBCA) has started operating under the supervision of Iran Chamber of Commerce, Industries, Mining and Agriculture (ICCIMA), the English-language....