Iran Considers New System of Annual Registration for Crypto Miners
Kollen Post's original article for cointelegraph.com reduced by 53%
As part of ongoing maneuvers to legitimize the industry, Iran's cabinet is looking into a proposal to register cryptocurrency miners on a year-to-year basis. According to documents reported by Coindesk on Sept. 19, a draft proposal to register crypto mining operations is currently on its way to official approval in Tehran.
Recent months have seen a great deal of hubbub surrounding the Iranian government's attitude towards cryptocurrency within its borders. In June, Iran's Ministry of Energy said that they would be cutting off power to mining operations using the country's subsidized energy grid until special pricing went into effect. A month later, that special pricing was finalized, with miners expected to pay $0.07 per kilowatt-hour, compared to $0.05 for most citizens.
Subsequently, at the end of July, Iran authorized mining as an industrial activity. While the Iranian cabinet rejected the use of cryptocurrencies in transactions at the beginning of August, Iran's National Tax Administration did agree to exempt repatriated crypto mining earnings from taxation last week.
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