Iran Bitcoin Legal

Last year, a Reuters report suggested that 4.5 percent of global bitcoin mining takes place in Iran, in part because of the country`s cheap electricity, where it is heavily subsidized. US sanctions denying Iran access to the international financial system have reportedly contributed to the increase in mining activity and the use of cryptocurrencies. The blockchain technology used in digital currencies makes it possible to carry out financial transactions quickly and securely while avoiding large banks. Since 2019, when authorities in Tehran recognized mining as a legitimate industrial activity, a number of companies have been allowed to mint digital currencies such as Bitcoin. But energy-intensive production has been blamed as one of the causes of growing power shortages and blackouts across the country, especially during hot summers when consumption increases due to growing cooling demand, and cold winter months when heating demand increases. Iran has reportedly passed a law allowing the use of bitcoin as a means of payment for imports and establishing a framework for the asset class, including mining regulation. Ghurbati insisted that he did not know that Latipov was registered and that his ties to the man were purely commercial. Latipov informed RFE/RL by telephone that his registration with the SNB was unfounded. The prosecution demanded eight years in prison for the journalist. Ghurbati`s lawyer, Abdurahmon Sharipov, told RFE/RL that his client continued to insist during the trial that he was not guilty. Ghurbati and blogger Daleri Imomali, known for her articles critical of the government, were arrested on 15 June and placed in pre-trial detention for two months.

Imomali was charged with illegal entrepreneurship and wilful false denunciation. His trial is ongoing. In June, Human Rights Watch called for the immediate release of Ghurbati and Imomali by Tajik authorities, stating that both men “are being targeted because of their professional activities, even though they are protected by Tajik laws and international obligations on freedom of expression and media.” Tajik President Emomali Rahmon has been criticized for years by international human rights groups for his contempt for independent media, religious freedom, civil society and political pluralism in the tightly controlled former Soviet republic. Kiev and the West condemned the annexation declaration as illegal and hoax. Iran has passed a law allowing the use of bitcoin and cryptocurrency payments for imports through a comprehensive legal framework, according to a report by local media Tasnim. El Salvador also introduced Bitcoin as legal tender last year, despite public skepticism over falling crypto prices. Dmitry Ozerkov, director of the modern art department of the world`s largest art museum by gallery space, wrote about 2. He posted on Instagram that he quit his job after Hermitage director Mikhail Piotrovsky praised the war in an interview in June, while describing the Hermitage`s overseas art exhibitions as another “special operation” to advance “the ideas of the Russian world.” “I left because I have no intention of having anything in common with today`s Russia,” Ozerkov wrote, adding, “Russia displaced all of us who only wanted good for its culture.” President Vladimir Putin has refused to call the conflict a war and has signed laws making it illegal to use the word to describe what he calls a “special military operation.” Since Russia began its unprovoked invasion of Ukraine on February 24, many celebrities, writers, actors, opposition politicians and activists have left Russia. Last month, Putin announced a “partial military mobilization” in support of the war in Ukraine, prompting tens of thousands of Russian men to flee the country to countries where they can enter without a visa. Most visited Armenia, Georgia, Kazakhstan and Mongolia. The Hermitage`s board of trustees, founded in 1764, has several members who have been implicated by the West in sanctions against Putin and his entourage for the invasion of Ukraine. The Central African Republic (CAR), one of the poorest countries in the world, has also adopted cryptography.

It was the first African state to make Bitcoin legal in April, launching its own digital coin last month. In 2018, Iran recognized cryptocurrency mining as a legal industry to monitor and regulate mining farms already in operation. [1] In July 2018, the government of President Hassan Rouhani declared its intention to launch a national cryptocurrency, a news outlet linked to Iran`s central bank, described several features of the national cryptocurrency and stated that it would be backed by Iran`s national currency, the rial. [2] The cryptocurrency could allow Iranians to carry out international transactions in the midst of a trade embargo. As of December 2020, Iranians were trading between $16 million and $20 million per day in 12 different cryptocurrencies. [3] [4] [5] The amount of Bitcoin mining in Iran is nearly $1 billion per year. [6] Referring to regulations adopted by the bank and other government institutions such as the Ministry of Industry, Mines and Trade two years ago, the CBI chief clarified that it is legal for Iranian companies to pay for imports with cryptocurrency. He was quoted in an article in the English-language edition of Iran`s Labour News Agency (ILNA) on Friday.