President Ebrahim Raisi has a positive view about regulating cryptocurrencies, said Mohsen Rezaei, the vice president for economic affairs, adding that new regulations would be finalized by April.
“The government is in favor of regulating cryptocurrencies. Businesses in this sector need to uphold transparently and pay tax. Digital currency miners will be given access to power at fair rates…The rules will be finalized by the Cabinet in four months,” YJC quoted him as saying.
The government has a plan of action to regulate cryptocurrency mining and address deficiencies in the existing framework. It is reportedly rewriting rules announced by the former administration in which mining virtual currency was legal and miners operated under rules mandated by the government.
