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Iran's New Crypto Law Requires Miners to Sell Bitcoin Directly to Central Bank to Fund Imports

Iran’s government has amended its cryptocurrency regulation to allow the country’s central bank to fund imports with bitcoins legally mined in the country, government-controlled news agency IRNA said Saturday. The Iranian Financial Tribune reported:
“The Department of Energy has been instructed to determine the ceiling for the issuance of authorized crypto units depending on the energy consumed by each unit. The volume of production of miners should not exceed the established ceiling, ”the publication added, noting that the central bank will soon announce the details of the new law.
Iran has issued over 1,000 licenses to crypto miners, including one to Turkish Bitcoin mining giant Iminer. Power plants in Iran are allowed to mine cryptocurrency, and bitcoin miners are given exclusive access to the electricity generated by three of them. Meanwhile, over a thousand illegal bitcoin miners have been shut down.

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