Iran gives the green light to 30 crypto mining companies to operate 

In a surprise move, the Iranian government approved 30 crypto mining companies to operate in the country, a sign that Iran is gradually softening its stance against cryptocurrencies.

In a report published by Financial Tribune, Ministry of Industries and Trade, Iran’s regulatory body for domestic and foreign trade, has formally announced the 30 mining companies that have been approved to operate.

These companies will set up their facilities in Semnan, Alborz Mazandaran, and Zanjan provinces, including East Azerbaijan, Mazandaran, and the country’s capital, Tehran.

Crypto stats and policy shift

According to the latest data, Semnan province will host six mining farms, Alborz province will host two, while Tehran will host one. Iran has currently provided 2,570 establishment permits to operate crypto mining.

The country’s sudden shift in its crypto policy is quite surprising given that Iranian authorities have been launching a series of crypto crackdowns just recently.

One such example is the recent seizure of 7,000 crypto mining computers in Tehran and the banning of Bitcoin mining last May to curb the rising energy issues in the country.

At that time, Iran was facing power outages which were directly blamed on crypto-miners and prompted the government to dismantle mining operations.

Open for (crypto) business

Many Asian countries, especially China, have been hostile to cryptocurrencies because of the major risks they pose, like volatility and vulnerability to illegal activities.

But other countries like the United States are opening up their doors to crypto miners who are searching for a new place to re-establish their operations.

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/blockchain/iran-gives-the-green-light-to-30-crypto-mining-companies-to-operate/