If you have decided to buy cryptocurrencies or miners, one of your main concerns will be whether cryptocurrencies are legal in Iran, and if so, what are the mining regulations? Until today, rules of cryptocurrencies mining have been different in various countries. Iran declared cryptocurrency mining legal in 2019 and issued more than 1000 cryptocurrency mining licenses that year. From then on, the mining rules were improved based on different situations. The latest cryptocurrency regulations published in Iran were in November 2022. In the following article, we will examine the latest Iranian crypto mining laws fully.
Cryptocurrency Mining Regulations in Different Countries
Several countries around the world have considered regulations for buying, selling, and mining digital currencies because Bitcoin and other digital currencies have become increasingly popular in recent years; China, for example, has considered very restrictive laws for Bitcoin mining as well as trading. In some countries, such as the United States, regular and appropriate rules are also being considered for mining cryptocurrencies. They are treated similarly to other property and assets in countries where Bitcoin and other cryptocurrencies mining are legal, and taxes are applied accordingly.
A number of countries consider digital currencies legal and are working to improve the laws regarding the trading and mining of them; among those are the U.S., Canada, Mexico, England, Japan and Russia. Iran is also among the countries that have enacted mining laws and consider mining digital currencies to be a legal activity.
The Latest Cryptocurrency Mining Regulations in Iran
Due to the fact that cryptocurrency is considered a relatively new market and doubt about it continues, Iran is still more cautious than advanced countries in the establishment of mining regulations. Although digital currency transactions are not illegal and prohibited in Iran, the regulations of cryptocurrency mining and trading have limitations that miners should be aware of.
In general, mining in Iran does not have any legal restrictions for people who intend to invest in this field alone; These people can buy a legal mining device and use it in a legal farm. But if the purpose of trading and mining is to start a business, the rules will be different.
One of the most important things about mining in Iran is that although it is legal, the electricity organization has the possibility of suing the miner due to the high power consumption of miner devices. In 2018, the executive regulation of digital assets mining was announced by the first vice president of Iran and digital currency mining was declared legal in Iran. According to this regulation, the mining license must be issued by the Iranian Ministry of Industry, Mining and; Otherwise, mining will be illegal. In addition, according to the regulations of Iran, the use of electricity or gas branching, which are intended for other purposes, is prohibited for the purpose of cryptocurrency mining, and in case of violation, according to the established laws, the sharing of electricity will be cut off by the force and the device will be confiscated by the police.
The license of importing miners and equipment is also issued by the Iranian Ministry of Industry, Mining and Trade. According to the latest mining regulations in Iran, approved in November 2022, cryptocurrency mining equipment is “permitted only by obtaining a license from the Ministry of Industry, Mining and Trade and through legal commercial and customs procedures”; Otherwise, legal action will be taken against the violators. The use of non-standard and illegal devices for mining is prohibited in Iran.
How to Get a Legal Mining License in Iran?
As we mentioned, the issuance of the mining operation license and the legal import of mining device and equipment is the responsibility of the Ministry of Industry, Mines and Trade. The license is issued in the name of one person and cannot be issued in the name of several people. In the mining operation license issued by the Ministry of Industry, things like business ID, cryptocurrency mining conditions, secretariat registration, registry signature certificate, list of activities, forecast of investment amount and device value are mentioned.
According to the article 15 of the guidelines for the issuance and exploitation of cryptocurrencies, a license of mining is issued to a person when the necessary measures have been taken to estimate the capacity of the site and the experts of the Ministry of Industry have made a technical visit to the mining site and confirmed it. In addition, environmental, health and safety measures and fire protection requirements must also be checked.
Renting a Farm: The Best Method for Legal Mining in Iran
As it was mentioned, it is not possible for people to mine without a legal license or buy illegal miner devices. If you are not able to get a cryptocurrency mining license, you can use legal companies that provide farm rental services. Dara Miner is one of the companies that has made it possible to buy legal miner devices and rent a farm to use its miner. This company is the first platform that has an official license from the Ministry of Industry, and in addition to farm rental services, it also offers the sale of legal Bitcoin miners, ASIC.
Take into your consideration that for mining, in addition to having sufficient skills and facilities, you must also be aware of the mining regulations in Iran. To buy a legal ASIC device or rent a legal farm, you can refer to Dara Miner’s website or call 00982188792017.