Virtual Currency Law in Iran

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Iran legalized cryptocurrency mining in 2018. The goal was to monitor and regulate the cryptocurrency mining farms operating in the country.

Virtual currency law in Iran

President Hassan Rouhani declared that he wants to launch a national cryptocurrency. According to a news agency affiliated with the Central Bank of Iran, the cryptocurrency will be backed up by Iran’s national currency the Iranian Rial. This national cryptocurrency will allow Iranians to conduct international transactions amidst a trade embargo. Iranians currently mine over $1 billion in cryptocurrencies yearly. 

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.


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