Iran legalizes mining

[eternalgloom]

The sanctions didn't start yesterday, but the Treasury Department has been slowly ramping up its pressure on exchanges ever since 2017. A formal endorsement of mining by Iran suggests there will be increased Iranian capital flow into mining. Between that and the fact that Iranian officials have repeatedly said cryptocurrencies can be used to thwart sanctions, it makes sense that US officials are watching closely. The fact is that P2P markets, DEXs, and non-KYC exchanges could theoretically allow circumvention of sanctions.

the sanctions didn't start in 2017 either they started back in 1979 just as the revolution occurred in Iran and have been only increasing ever since. my point was that if US decided to do anything to exchanges in the name of Iran and sanctions,... they would be lying their asses off since Iranians never used any of these exchanges they have access to put pressure on in first place.
any other method they were using (DEX, P2P, certain exchanges,...) have been and will remain out of their jurisdiction and reach.

Before 2017, in the eyes of the Treasury Department, cryptocurrency wasn't relevant to sanctions enforcement because the market was so tiny. That is obviously changing as Bitcoin becomes more and more valuable. And Iranians were allowed on most exchanges before that time. That's why there was a big scandal when Bittrex disabled the accounts of all Iranians and confiscated their funds. See these threads:

https://bitcointalk.org/index.php?topic=2342458.0;all
https://bitcointalk.org/index.php?topic=2279516.0;all

From 2017 on, we've seen many exchanges add TOS prohibiting regions based on OFAC sanctions. This is because OFAC wasn't applying any pressure before then. Now they are.

Damn, I hadn't heard of this before, I always regarded Bittrex as one of the fairly good exchanges.
Banning entire groups of people AND confiscating their funds is a huge red flag.

It's kinda sad that the entire nation is in effect punished by these sanctions, though that's kind of the point of sanctions in the first place...

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[Iceblast]

Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm

What is your opinion about that?

For crypto miners in Iran, I think it is good news, because legalized mining makes freedom for anyone to do mining, and that will not be illegal. I think it's a good step for Iran

[deisik]

Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm

What is your opinion about that?

You should include a link next time: Iran Legalizes Crypto Mining

I imagine the US government will take this as cause to further clamp down on exchanges and other Bitcoin services. They'll push for stricter regulations and enforcement under the guise of concerns over sanctions. This is what a US official said a few days ago:

"As Iran becomes increasingly isolated and desperate for access to U.S. dollars, it is vital that virtual currency exchanges, peer-to-peer exchangers and other providers of digital currency services harden their networks against these illicit schemes," said Sigal Mandelker, Treasury's undersecretary for terrorism and financial intelligence

Will it change anything?

I guess the citizens of this country are already banned from trading cryptocurrencies on most exchanges (not even speaking about regulated exchanges in the US). Whether this ban is strictly followed is another question, though I don't think that Iran makes a big contribution to cryptocurrencies in the first place. And I'm not sure their hackers are as sophisticated and advanced as North Korea's to fight it back

[TheCoinGrabber]

Turns out it's just "regulating". It was never illegal to begin with, the government just want in on the action apparently.

The thing is, how would this really help Iran? I know there are sanctions but would they be easily be able to sell the mined coins for, say, foreign currencies?

You should include a link next time: Iran Legalizes Crypto Mining

Thanks for the link.

[The Cryptovator]

Most likely I have read this news previously although I can't remember right now. Obviously this is positive news for crypto-currency user especially who live on Iran. Who know perhaps more miner would move to Iran in order to mine crypto-currency. I think Iran took a great decision and it will make a strong crypto community. Probably electricity bill very cheap there.

[Ico.best]

I think that is a good start, by making legality for mining open the opportunity for bitcoin to be more able to enter and be known to the community. But if I think for now the probability of income and expenditure from mining bitcoin is very minimal, I am also one of the miners in my place.

[Nanagyasi]

Btc and crytpo in a whole is gaining more popularity and acceptance. Maybe it wasn't out rightly illegal at first and so to describe it as been legalised as the topic says might be grammatically not true, as suggested by another person. However, once it is regulated now and more or less legalised, it calls for joy since it is a step towards the acceptance we have all been waiting for

[coin-investor]

Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm

What is your opinion about that?

This is a big turn around, I just read an article not long ago that Iranian authorities are seizing ming farms and now they are legalizing it, the authorities have seen how I can help their economy, I hope they become a major player in mining top coins in the market, many more Arab countries will follow after this news, we have so many Muslim brothers that are into cryptocurrency.

[Artemis3]

snip

This is redundant and i already talked about either here or in another thread. But you still don't get it and went elsewhere.

Tor is detectable, not the activity you are doing with it. Many people use Tor safely to defeat political censorship, but what do you know in your perfect place.

If crypto is outlawed, Tor doesn't necessarily is. If Tor is also outlawed, there are still ways to obfuscate it, but i'm not bothering discussing those with you.

You are the only one responsible for not committing crimes in your country.

IPv6... meh, as if i didn't knew that, but its not what i was talking about. Macaddy spoofing, comes by default in modern OSes, but again not relevant.

And yes, you are still wrong, because, you don't even get it, but most of it is just inaccurate to say the least. Don't make me laugh about tracking purchases, you obviously have no idea how it is in some places, i might have a nic here with YOUR ID as the previous owner FWIW...

Oh and your little ipv6 thing doesn't go thru tor. Stop spreading FUD, get a clue or get lost.

[mirakal]

I am amazed, this is a country that is very brave in taking policies, many countries do not dare to take policies like Iran, maybe in the future many countries will follow like Iran.

For sure,  that would say clearly that the network operation of bitcoin won't be stop as long as there are miners out their.
They can make it illegal but they can't stop the miners, and good thing there are countries who supports crypto.

[ubay]

I am amazed, this is a country that is very brave in taking policies, many countries do not dare to take policies like Iran, maybe in the future many countries will follow like Iran.

For sure,  that would say clearly that the network operation of bitcoin won't be stop as long as there are miners out their.
They can make it illegal but they can't stop the miners, and good thing there are countries who supports crypto.

Good news for me, because they openly support bitcoin mining. That is one step towards bitcoin legality in Iran. It's just a matter of time until bitcoin is truly legal in Iran.

[Akonobea]

Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm

What is your opinion about that?

This is such a good news for the crypto ecosystem but one thing about such news is that after talking much on it you need to show us the source of the information because not everything here is real .

[rodel caling]

Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm

What is your opinion about that?

Happy to heard that legalised or reguleted the mining in iran is pretty great news mining is one of the best source to get earn profits in crypto.

Iran will be a good market for mining. The main thing that the government supported mining in the future

Yeah that is true iran and other country in middle is the best mining site location because the can use power generator using gasoline to supply electricity the reason is the gas product in that country is very cheap.

[Zentachain1990]

This will be for every country one day, because No country can resist technology and developments. Resisting and non-adapting countries are doomed to remain behind, while those that keep pace with developments are more determined to reach better days.

[pixie85]

Countries that are not doing so well economically are the first to carry out some extreme plans. Great news from Iran but how long will they be able to keep it going when with embargos all around them? I hope they will remain defiant.

Some extremists were saying that bitcoin is against the rules of Islam Looks like it isn't anymore if Iran supports it.

[Dreamchaser21]

I am amazed, this is a country that is very brave in taking policies, many countries do not dare to take policies like Iran, maybe in the future many countries will follow like Iran.

Even if we know Iran is having an issue with regards to terrorism, I still adore them for passing this bill and for making mining legal for their people. I hope to have more peace on that country so people can mine without any hassle and for them to have the chance to go up as a great nation again.

[Little_king]

Legalize of mining is a big news for the crypto community in the world and Iran people as the situation was different before regard the crypto in that region and the door is open for them to trade crypto now as a means of boosting the community.

[Herbert2020]

I am amazed, this is a country that is very brave in taking policies, many countries do not dare to take policies like Iran, maybe in the future many countries will follow like Iran.

For sure,  that would say clearly that the network operation of bitcoin won't be stop as long as there are miners out their.
They can make it illegal but they can't stop the miners, and good thing there are countries who supports crypto.

Good news for me, because they openly support bitcoin mining. That is one step towards bitcoin legality in Iran. It's just a matter of time until bitcoin is truly legal in Iran.

bitcoin has always been legal in Iran it has just not been regulated. so was mining. in fact people in Iran have been mining bitcoin for many years, mostly in early years that the difficulty was low. as for regulation of bitcoin itself, it is going to happen in about 3 months.

[Darker45]

I am amazed, this is a country that is very brave in taking policies, many countries do not dare to take policies like Iran, maybe in the future many countries will follow like Iran.

For sure,  that would say clearly that the network operation of bitcoin won't be stop as long as there are miners out their.
They can make it illegal but they can't stop the miners, and good thing there are countries who supports crypto.

Good news for me, because they openly support bitcoin mining. That is one step towards bitcoin legality in Iran. It's just a matter of time until bitcoin is truly legal in Iran.

bitcoin has always been legal in Iran it has just not been regulated. so was mining. in fact people in Iran have been mining bitcoin for many years, mostly in early years that the difficulty was low. as for regulation of bitcoin itself, it is going to happen in about 3 months.

I think the information that has gotten to you is not quite right. Bitcoin has been illegal in Iran. There was never a time when the Iranian government raised the green flag for Bitcoin. As a matter of fact, according to a cointelegraph news just this month, the government's central bank has warned that buying and selling Bitcoin is illegal in the country. (Source: https://cointelegraph.com/news/trading-bitcoin-is-illegal-in-iran-central-bank-official-warns)

However, 2 days later, it was reported that a disagreement among concerned Iranian officials regarding Bitcoin is apparent. While trading is indeed illegal, mining was treated with an open mind, with the country's supreme court itself excluding mining in its ban decision. (Source: https://finance.yahoo.com/news/iranian-authorities-disagree-whether-bitcoin-231507483.html)

But then again, we all know what happened after that. More than a thousand ASICS were confiscated in the various raids that were conducted.

And then, another turn around by Iran, legalizing mining all of a sudden.

What a ride! Every Iranian must have a dizzying yet fun ride with their government's final policy on Bitcoin and cryptocurrency.

[Rimueng tuha]

Wow, this news makes me jealous because my own country has not given legal status to mine crypto currency. I think I want to move and live in Iran to be able to do mining freely and not violate the law. I think the Iran decision is based on other reasons which certainly consider that it turns out that mining is better permitted because it benefits and improves the economy of its people. I think in the future crypto currencies will develop well in Iran.