It was announced that the regulation of mining of cryptocurrencies was announced for implementation. Cryptocurrency mining has been legal for three years.

Promulgation of cryptocurrency mining regulations announced. The Ministry of Industry, Mines and Trade is the main custodian of the implementation of this regulation, and the rest of the institutions must also cooperate in this matter or the Ministry of Silence. Also, in this resolution, it is emphasized that the use of cryptocurrencies in domestic exchanges is not allowed. In addition, the offending importers will be dealt with legally.

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Promulgation of cryptocurrency mining regulations

By approving the relevant laws Cryptocurrency mining In August 2018, it has been more than three years since the mining of this digital asset became legal in the country. In continuation of the legislative process in the field of cryptocurrency, early September Minister of Silence He announced the re-approval of the cryptocurrency extraction resolution and announced that with this resolution, the activities of these asset extraction centers become official and legal.

Promulgation of cryptocurrency mining regulations

Now the vice president of publishing and Promulgation of cryptocurrency mining regulations has informed. Reza Fatemi Amin has announced:

In the resolution that was approved by the government in Shahrivar, the whole issue of cryptocurrencies has been analyzed and a part of the rulings that needed the government’s approval has been approved. From this resolution, a regulation has been prepared and communicated to various institutions.

With the issuance of this new resolution, which was approved in 13 articles, the previous resolutions (related to August 2019 and October 2019) have been canceled and the new resolution has come into force. According to the new government decree, Ministry of Industry, Mine and Trade The main custodian of the subject Cryptocurrency mining It is in the country and other institutions are also obliged to help this ministry in this matter. In this regulation, it is stated that any activity related to cryptocurrency mining, including import, production, sale and repair of equipment, is allowed only by obtaining a license from the Ministry of Security and through legal commercial and customs procedures.

In addition, with the offending importers according to the customs law approved in 1390, the export and import regulation law approved in 1372 and Anti-trafficking law and foreign currency approved in 2012, and the violator producers and sellers will be dealt with as per the case in accordance with the law on reforming the energy consumption pattern approved in 2009, the law on combating smuggling of goods and currency, and the law on strengthening and developing the standard system approved in 2016.

Promulgation of cryptocurrency mining regulations
Promulgation of cryptocurrency mining regulations

Also, in this resolution, it is emphasized that the use of cryptocurrencies in domestic exchanges is not allowed. Another part of this decree also obliges the Ministry of Security to have the information of the license recipients subject to this article. Ministry of Economic Affairs and Finance put This ministry can also delegate the authority to issue the above-mentioned license to the relevant organizations in the commercial, industrial and special economic zones, as the case may be.

In article three of this regulation, ministry of silence With the aim of optimal management of mining centers and helping to reduce illegal mining, it has been required to compile and announce the guidelines for the establishment and launch of large-scale mining centers within the next three months.

The standard organization is also about equipment Cryptocurrency mining It is required to compile and communicate the energy label and quality standards of electrical and technological power of this equipment. In case this organization finds the extraction devices non-standard, in addition to confiscating the related equipment, it is subject to the punishment provided in Anti-trafficking law will be. Of course, the issue of production and import of mining equipment will be determined and notified in cooperation with the Ministry of Privacy and Communications.

Among other cases that are subject to punitive laws, is the issue of banning the use of electricity or gas distribution, which are intended for other purposes, for cryptocurrency mining. Provincial, city councils and all executive bodies in this field are obliged to identify and deal with these centers, and if such a violation occurs, the violator will be dealt with according to the law.

Promulgation of cryptocurrency mining regulations
Promulgation of cryptocurrency mining regulations

Another part of this regulation also points out that: “Activists in this field must accept the responsibility of the risk of using cryptocurrencies and these people are subject to the support and guarantee of the government and Banking system They don’t.” Also, in a part of this resolution, it is emphasized that the location of cryptocurrency mining centers is not limited to 120 km from Tehran city, 50 km from Isfahan city and 30 km from the centers of other provinces.

The issue of energy supply required for these centers is also explained in Article 7 of the aforementioned regulation. According to the provisions of this section, to provide the energy needed for the centers Cryptocurrency mining Five methods are listed and centers are allowed to use one or a combination of them.

Promulgation of cryptocurrency mining regulations
Promulgation of cryptocurrency mining regulations

These methods are briefly:

Construction of renewable power plants or purchase of electricity from newly constructed renewable power plants, investment in saving energy consumption optimization plans, investment in the construction and operation of a thermal power plant for electricity production with fuel supply from the associated gas (metal), purchase of electricity from the national grid by receiving electricity branching. except during the time of electricity and fuel network restrictions) and the construction of a thermal power plant outside the national network whose fuel tariff is calculated based on the energy tariff formula.

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