Iranian Government Gives Green Light to Cryptocurrency Mining, Bitcoin Immediately Skyrockets on Local Exchanges

By Alex Dovbnya

Wed, 5/09/2018 - 15:15

Iran has recognized cryptocurrency mining as a separate industry. The official regulations are already in the offing. Shortly after this BTC surpassed its all-time high

Iranian Government Gives Green Light to Cryptocurrency Mining, Bitcoin Immediately Skyrockets on Local Exchanges

Cover image via U.Today

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According to a local media outlet IBENA, Iran has recognized cryptocurrency mining as a separate industry. The official regulations are already in the offing.

Shortly after this announcement, Bitcoin (BTC) briefly surpassed its all-time high, reaching around $24,000 on the Exir exchange, while Ethereum (ETC) spiked to $900.

Earlier, U.Today reported that Tehran had already introduced the draft of its government-backed cryptocurrency for circumventing the economic sanctions imposed by the US. Moreover, the Central Bank of Iran is planning to lift its crypto ban this September.