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

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

Wed, 5/09/2018 - 15:15

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

Cover image via U.Today

Read U.TODAY on

Google News

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.

#Bitcoin

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.