The Iranian parliament has prepared a bill that seeks to ban the use of cryptocurrencies, such as for payments.
According to a report on Friday from the Tasnim news agency, the new bill drafted by Iranian lawmakers will ban the use of all non-national cryptocurrencies for payments within the country. On the flip side of the government’s decision to clamp down on cryptocurrencies, the country is mulling over issuing its own digital asset. This is possibly the main motive behind the new bill.
Iran is not the first country to issue a total ban on crypto transactions. In April, the Central Bank of the Republic of Turkey issued a ban on the use of Bitcoin and other cryptocurrencies for transactions.
Miners must obtain licenses In addition to restricting the use of crypto for transactions, the Iranian bill also stipulates that miners in the region must obtain licenses from the Ministry of Industry, Mines and Commerce before establishing mining farms. The ministry already granted permits to 30 mining facilities last week.
Recall that in May, the country imposed a four-month ban on cryptocurrency mining after blaming it for rampant blackouts. The country also reportedly enlisted the help of spies to track down illegal mining farms.
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