Iran wants to promote Bitcoin Mining with renewable energy

Simply, the Situation was not for Iranian Miner. Prohibitions and severe penalties were on the agenda. Now the government wants to occur even as a promoter.

The fight against illegal Mining – grants for positive developments

Crypto investors and people interested in the field of Mining, have in Iran is by no means easy. Repeatedly, the government corrected in Tehran, their Position when it comes to the assessments of Bitcoin, Altcoins, and Blockchain, and ultimately to the Mining. Several times the media reported only about a tightening of the legal position, to place, sometimes a short time later, a different direction the day. Clear but seems to be given the latest reports that the illegal Mining of the policy is a thorn in the eye. The background is as in some other countries, Miner, or even a larger Mining farms of subsidies to the national power benefit of the market.

The Mining industry will respond by growing

The Good thing about the announcement of the Iranian government: in Parallel to the threat of miners that rely on electricity from Renewable energies may be able to retrieve in future promotions. To this end, the state will bring special electricity tariffs at the Start. So you want to announce the illegal Mining of the fight. According to the competent Department of energy could wave through the use of premiums in the amount of up to 20 %. The current reports in the media in the country. This approach aims to finally provide for clear conditions. So far, it was at least partly a grey area, if highly subsidized electricity will be used for the mining of Bitcoins and Altcoins, such as Litecoin. According to the Ministry, in particular the ban on the mining of digital currencies during the defined peak hours, when electricity consumption in the country. The period, the Ministry estimates per year at 300 hours.

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Also, for tax purposes, the government for clarity

On average miners will have to pay only the applicable average price. This is the equivalent to 0.08 USD per KWh. The new approach could now lead to no more raids take place. In the past few months, authorities had carried out multiple operations against the illegality, wherein, among other things, Mining farms were affected in a vacant factory buildings. These were, in turn, in particular in regions where the lowest current applicable prices. In view of the basically year-long rolling course of Iranian policy, it could finally give clear guidelines. Also for tax issues. Miner will soon have to pay taxes on their income in the country. The legalization, as such, for Mining had been implemented by the government until the middle of the year. Without state approval, the reasonably priced Mining may not take place but still. Add to this: citizens are not allowed to use for payments and transactions in General in Iran.