Iranian President Hassan Rouhani discussed cryptocurrencies at a recent meeting of the government’s Economic Coordination Board and told participants that regulatory policy is needed to protect consumers. Rouhani believes that the Iranian government should “communicate necessary laws and directives” as soon as possible in order to avoid unscrupulous crypto businesses.
Iran’s President Hassan Rouhani Says Regulation Necessary To Keep ‘Unprofessional’ Entries Out Of The Crypto Sector
On Tuesday, Iranian President Hassan Rouhani commented on the strengthening of the cryptocurrency industry in Iran and warned retail investors about the possibility of an “unprofessional” entry into the sector. Overall, Iran has been friendlier to crypto-assets and businesses such as bitcoin mining than most countries. there have been some issues with power consumption, Except one Study indicates that Iran is taking advantage of bitcoin mining to mitigate the effects of economic sanctions against the oil-rich nation.
Tuesday’s appointment The Government’s Economic Coordination Board Reveals Rouhani Is Concerned About the Cryptocurrency Space. Rouhani elaborated that Iranian regulators need to monitor the ecosystem and stressed the risks associated with unscrupulous crypto businesses to the country’s retail investors. spiritual
“In order to legalize cryptocurrency activity in the region and protect people’s capital, we must think of a solution as soon as possible and comply with the necessary laws and directives,” Rouhani told the Economic Coordination Board meeting. “
Iran’s love-hate relationship with bitcoin mining
Last May, Rouhani gave instructions Mining operations in the country will remain closed till September 22. At the meeting, the Iranian president said that the authorities “need to cooperate with the media and cyberspace in the fields of information, education and public awareness of this incident and its directives and laws.”
Two years ago, Chinese miners found very economical Electricity prices ($0.006 per kilowatt-hour) but regulatory guidelines watch miners deal with ups and downs. Iran in mid-July 2020 licensed 14 bitcoin mining farms and cut electricity rates. After the license, the power plants in Iran were Authorized For my crypto assets. Long after authorization, the country gave bitcoin miners exclusive access For energy from three power plants.
Things have been up and down in Iran regarding bitcoin mining in the country and Rouhani’s recent statements can be seen as neutral. Rouhani has served as president for eight years and has a chance lose your seat In the near future.
What do you think about the Iranian president who wants to regulate the crypto industry in Iran? Let us know what you think about this topic in the comment section below.
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