Bitcoin and Cryptocurrency Trading in Iran Illicit

Bitcoin BTC Iran

There have been reports that cryptocurrency miners have increased Iran’s energy consumption by 7 percent. The Iranian government has, nonetheless, been very accommodating to the miners. The West Asian nation has ratified a bill that officially acknowledges cryptocurrency mining. The Iranian government, however, has not been so friendly towards cryptocurrency trading. The ratified bill has failed to give cryptocurrency trading the same merit as crypto mining. As per the approved bill, the Iranian government does not recognize digital currency trading done within its borders as lawful. Tweeting about the issue, Global Coin Research says: “Iranian government claims that it will not recognize as lawful any trade activity carried out inside Iran involving cryptocurrencies. It will also not view the digital coin as legal tender, and the Central Bank of Iran would not guarantee their value.” More Accommodation for Bitcoin The harsh stance taken on crypto trading, might not do much…

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