It continues to be tightened, in Iran, the discussion on digital assets. After deciding to suspend electricity supplies to the users who used it for the calculation activities necessary for the extraction of virtual coins, the authorities of the Middle Eastern country now seem to have reached such conclusions by foreshadow an increasingly favorable environment for activities related to the cryptocurrency industry, at least according to the latest news from Tehran.
The decision of the Chamber of Commerce, Mining and Agriculture
It took almost two weeks to reach a decision, but it seems that the road in Iran is now leveled for the crypto minig. The decision was made in this regard Iranian Chamber of Commerce, Mines and Agriculture, the 22 July, stating that the cryptocurrency mining industry should not be stopped, but regulated in order to guarantee benefits to the region's economy.
The issue broke out following the decision by the Tehran government not to supply more electricity for mining, pending a redefinition of tariffs. A decision taken after ascertaining an increase in the order of 7% in the country's consumption, attributed without hesitation to the miners and followed by confiscation of two farms in the province of Yazd.
It should however be emphasized that the decision is not yet official, so much to push Abdolnaser Hemmati, governor of the Central Bank of Iran, to affirm that it will still have to pass to the scrutiny of the government and be reaffirmed by the economic commission of the Country. According to observers, however, a disavowal of the line adopted is highly unlikely the issue related to the redefinition of energy tariffs to be applied to farms remains on the table, before they can go back to operating at full capacity.
Iran and cryptocurrencies
The mining decision has been interpreted as the first step towards defining an ecosystem that is absolutely favorable to the digital asset industry. Its importance, however, goes far beyond the question of electricity tariffs, but it also affects the discussion relating to possibility that Tehran also proceeds on its virtual currency path. A possibility seen as the best rsubject to economic sanctions decided by Donald Trump that they are strangling the economy of the country and which has been rumored for some time.
In this regard, it should be emphasized that the Middle East area is becoming increasingly receptive to cryptocurrencies, thus also pushing Tehran to try not to hinder too much a sector that in any case tends to reproduce even in an unofficial way and without institutional support. In practice, the government believes that it is completely useless to oppose the use of digital assets which could then give rise to underground traffic. Much better to try to govern the processes and perhaps prepare the way for a state cryptocurrency able to bypass the economic problems created by the US embargo.
Moreover it must be considered that the position of crossroads of the Country is about to be neutralized by the decision of China to give away to the new Silk Road, which could prove to be detrimental to Iran. Another reason that explains the new attitude towards cryptocurrencies.
