Crypto Mining Used in Iran

Last Modified:8 Dec 2019 11:01:59
Crypto Mining Used in Iran

Can Crypto Mining Equipment Be Widely Used in Iran?

Mining Equipment Be Widely Used in Iran

Considering the high pressures on the part of Iranian statesmen regarding not allowing crypto-miners working in Iran with the excuse of very high electric energy costs and knowing that most of the miners use this electricity with the governments’ tariffs specified for non-industrial consumption, Cointelegraph has earlier announced that Iran’s government tries to combat any Bitcoin mining which has recently got prevalent among its people after the U.S. sanctions and economic pressures.

The Iranian authorities believe that cryptocurrencies have caused about $2.5 billion going out of the country’s economic cycle since last year. It is another reason for Iran’s resistance against its widespread use. 

The current reaction of the Iranian government seems reasonable remarking that there is not yet any license issued by it import crypto-mining devices. The Iranian authorities’ decision was publicized by Deputy president of Islamic Republic of Iran Customs Administration (IRICA) Jamal Arounaghi in an interview with Mehr News Agency on July 21. 

IRICA has considered crypto-mining in the area computer science (tariff No. 84719090 which is related to computers and central processors) and determined a tariff for importing them appropriate for this field; although the mere allocation of a tariff for a good doesn’t guarantee its being legal.

According to Iran’s Minister for Information and Communications Technology, Mohammad Javad Azari Jahromi, Iran’s measure in banning such imports is due to lack of proper regulatory structure about cryptocurrencies in this country. Therefore, avoiding its more development is considered a preventive activity.