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The cryptocurrency mining regulations were published in the fall of 1401

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Mohammad Mokhbar, the first vice president, on November 22 Cryptocurrency mining regulation communicated to the relevant institutions for implementation, and according to that, any mining activity in Iran will be possible only by obtaining a license from the Ministry of Security. With this decision of the Council of Ministers, the process of issuing the establishment license and operating license for cryptocurrency mining farms was resumed.

According to Mihan Blockchain, in September of this year, Seyyed Reza Fatemi Amin, the Minister of Industry, Mining and Trade, announced that the government has approved the cryptocurrency mining law, and with this approval, the process of issuing the license to establish and operate cryptocurrency mining farms has been resumed. .

After about 2 months of this resolution, the first vice president notified it to the relevant institutions for implementation on November 22. This regulation, which consists of 13 articles and a number of notes; Licensing responsibility Cryptocurrency mining considers it to be the responsibility of the Ministry of Privacy and introduces the permitted methods of supplying the energy needed for mining. In the following, we review some clauses of this regulation.

Article 1 of this regulation describes definitions such as distributed ledger technology and cryptocurrency.

Where should miners get their mining license?

It is stated in Article 2; ministry of silence It is responsible for providing a license to mine cryptocurrencies through legal commercial and customs procedures. At the same time, legal action will be taken against the offending importers.

In the note 4 of this article, it is said that the issuance of any crypto asset extraction license by the Ministry of Privacy or organizations of free trade zones (industrial and special economic) for electricity applicants after coordination with Ministry of Power And for applicants who need to supply gas or fossil fuel for extraction, after coordination with Oil Ministry Is.

According to Article 3, the Ministry of Health, in cooperation with the Ministries of Energy and Oil, is required to compile and issue the guidelines for setting up large-scale extraction centers within 3 months from the date of notification of this regulation.

Article 5 of the cryptocurrency mining regulation prohibits the use of electricity or gas distribution established for other purposes to mine cryptocurrency. In case of violation, the violator will be dealt with according to the laws.

What are the authorized methods of electricity supply required for cryptocurrency mining?

According to Article 7, cryptocurrency mining centers are allowed to supply their electricity with one or a combination of the following methods:

1- Construction Renewable power plants Or purchasing electricity from newly built renewable power plants that will be put into operation after the notification of this regulation.

2- Investing in Energy consumption optimization plans or use of Energy saving certificate Allocated within the framework of the energy and environment optimization market guidelines approved by the Ministry of Energy.

3- Investing in Construction and operation of a thermal power plant for electricity production with fuel supply from the accompanying gas location (flare).

4- Buying electricity from the national grid by receiving electricity branching, except when the electricity grid is limited. Also, the cost of fuel per kilowatt-hour of electricity consumed and the conditions for extraction centers to enjoy a discount on the cost are given in the regulation.

5- Construction of a thermal power plant outside the national grid. The fuel tariff in this method is mentioned in the regulations.

Also, the central bank is obliged to compile and communicate the infrastructure of cryptocurrency supply by mining centers and the instructions for the conditions of currency commitment and receiving and benefiting from support tariffs within 3 months from the date of promulgation of this regulation, with the cooperation of the Ministry of Security.

Article 8- The Ministries of Energy and Oil are obliged to determine and notify the electricity and gas network restriction times for the miners every year, and if they do not comply with the network restrictions, they will cut off the electricity and gas of these units.

Article 11- Cryptocurrency mining centers, if they export their product and return the currency obtained from it to the economic cycle of the country according to the Central Bank regulations, they will be subject to the benefits stipulated in the tax laws and regulations.

Article 12- Guidelines for the conditions of transactions, the transfer of profits of partnership shares, capital gains and also the return of the principal of foreign capital by foreign investors in the cryptocurrency mining project by the Central Bank and in cooperation with the Ministries of Economic Affairs and Finance and Security shall be compiled within 3 months from the date of promulgation of this regulation. It is communicated.

Click on the link below to read this regulation in full.

  • Which institution is responsible for issuing cryptocurrency mining licenses in Iran?

Any activity related to cryptocurrency mining, including import, production, sale and repair of equipment, is allowed only by obtaining a license from the Ministry of Security and through legal commercial and customs procedures.

  • How are cryptocurrency mining centers allowed to supply their electricity?

1- Construction Renewable power plants or purchasing electricity from newly built renewable power plants 2- Investing in energy consumption optimization plans or using the allocated energy saving certificate 3- Investing in the construction and operation of a thermal power plant to produce electricity with fuel supplied from the accompanying gas (flare) 4- Buying electricity from the national grid 5- Building a thermal power plant outside the national grid

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