Private companies have called on the government to take efficient measures for the use of cryptocurrency and its mining in way that compatible with the national interest.
Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) hosted a special meeting earlier this week with economic experts and representatives from the Central Bank of Iran, the chamber's newsroom reported.
Sajed Nikpour, representing the ICCIMA commission for promoting non-oil exports, said the private sector supports the use of digital currency only in foreign trade. "Cryptocurrencies should be used to boost domestic production…such as for importing raw materials."
He stressed that “Measure in this regard must be transparent. "We need brokers authorized by the government." Cryptominers can purchase their electricity from the Iran Energy Exchange.
Nasser Hakimi, CBI's former deputy for innovative technologies, said the CBI should have taken three main measures to make it feasible for businesses to use cryptocurrencies. "The CBI should recognize cryptocurrency trade and let lenders and moneychangers exchange it legally."
"Exchange shops should also be allowed to include cryptos on their exchange rate electronic boards," he added.
In July 2019 the government said it will recognize cryptocurrency mining as a legal industry. Miners are charged 4,800 rials for one kilowatt-hour that is half the electricity export rate in autumn, winter and spring. Future billings are planned to be calculated at 19,300 rials/kw or twice the tariff for exported electricity in summer (June-Sept).
Following the unilateral US withdrawal from the Iran nuclear deal and imposition of sanctions in 2018, experts proposed the CBI allow use of high-tech to evade Donald Trump’s cruel economic blockade.
Tehran has ratified regulations for legally mined cryptocurrency to be used for imports. But the measure proposed by the CBI and the Ministry of Energy, requires licensed cryptominers to sell the coins they mine directly to the CBI.
