• 21 July 2019 - 08:43
  • News Code: 102184

Islamic Republic of Iran Customs Administration (IRICA) issued an instruction regarding crypto currencies mining machines.

IRICA has announced importing tariffs for mining machines, an action that shows Iran’s government is trying to legalize importing mining machines and the mining process.

Mining crypto currencies like Bitcoin involves connecting computers - usually specialized "mining machines" - to the currency network via the internet. By providing computing power for validating transactions on that network, mining machine owners are rewarded with newly generated coins, making it a potentially lucrative exercise - especially when done on a large scale.

Now it’s the time that crypto miners must wait for Iranian government to decide about crypto mining using the Energy Ministry, Economic Affairs Ministry & Central Bank views.

Regarding the IRICA decision, the code 84719090 is assigned to crypto mining machines and could be released from customs administration.

The code was previously used for POS machines and some other banking facilities.


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