Iran begins issuing licenses to crypto miners under new regulatory framework
The Iranian government has started issuing licenses to crypto miners under a new “comprehensive and detailed” regulatory framework approved last week.
Authorities had previously issued licenses to some crypto mining operations, but halted the process due to issues with electricity consumption and illegal mining.
Reza Fatemi Amin, Iran’s Minister of Industry, Mining and Trade, stated that according to the regulations, miners/entities need two licenses before they can start mining cryptocurrencies in Iran: an establishment license and an operating license. An establishment license establishes an entity as a legitimate crypto miner, while an operating license allows it to actually start crypto mining.
According to reports, Iran has issued more than 1,000 crypto mining licenses under the previous regulatory framework. Iranian authorities revealed in May that they had shut down nearly 6,914 illegal crypto mining farms.
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