Iranian companies get go-ahead to use cryptocurrency for imports
In an effort to increase trade within the nation, Iran’s Trade Ministry has approved the use of cryptocurrency payments for imports. In light of continued international trade sanctions, Iran’s Ministry of Industry , Mines, and Trade has authorized the use of cryptocurrency for imports. The country’s trade minister, Reza Fatemi Amin, reportedly acknowledged that specific […]
Iran importer calls for regulatory laws to use crypto in foreign trade
Iran importers association has called on the government to establish stable laws in order to enable them to use cryptocurrency payment in the nation’s international trade. The chairman of Iran’s Importers Group and Representatives of Foreign Companies (Import Association), Alireza Managhebi, was quoted in local media on August 20 as stressing the need for reliable […]
Iran makes $10M import with crypto, aims ‘widespread’ use by Sept
Iran has been compelled to adopt crypto as a means of exchange for international trade agreements as a result of ongoing economic sanctions against the Islamic regime. Iran has made its first international import order worth $10 million in cryptocurrencies, according to a top government trade official, despite being subject to decades of economic restrictions. […]
Iran increases penalties for using Illegal subsidized energy in crypto mining
Iran is tightening rules on crypto mining as penalties for using subsidized energy will be increased by the Iranian government. The fines will reportedly triple compared to current rates while repeated violations will lead to jail time. The Tehran Times stated that the government planned to substantially increase fines for mining companies who utilize subsidized […]
Bitcoin mining industry resumes in Iran after a three-month ban
Following a three months ban on crypto mining owning to excess power usage in Iran, crypto mining has been given the green light to resume, as it can no longer be blamed for stressing the electricity grid. Following a three-month prohibition issued by former President Hassan Rouhani on May 26, 2021, the Iranian government will […]