At a time when digital currencies are surging, the Iranian government recently announced an eye-catching policy: Bitcoin mining is allowed, but work is prohibited during peak electricity consumption periods. This new regulation has attracted widespread attention and heated discussions in the industry. This article will explore the impact and significance of Iran's new Bitcoin mining regulations from multiple perspectives.

As a country with rich oil resources, Iran has relatively abundant electricity resources. However, Bitcoin mining has a huge demand for electricity, especially in the context of soaring Bitcoin prices around the world, mining has become an attractive investment activity. However, the large amount of electricity consumed by mining has also raised energy efficiency and environmental protection issues. Therefore, the Iranian government's introduction of this new regulation can be said to be seeking a new path between balancing the development of the digital economy and the sustainable use of energy.

The formulation of this policy also reflects the Iranian government's forward-looking thinking in the digital economy. With the continuous expansion of the global digital currency market, the status of cryptocurrencies such as Bitcoin has gradually increased in the financial field. As a sanctioned country, the development of digital currency provides Iran with a path to bypass the traditional financial system. Therefore, by allowing Bitcoin mining, the Iranian government can not only attract more investment and capital inflows, but also alleviate domestic economic pressure to a certain extent.

However, the ban on Bitcoin mining during peak electricity consumption has also caused some controversy. Some industry insiders believe that this policy may affect the efficiency and benefits of Bitcoin mining, and even cause some miners to choose to mine in other countries. However, from the perspective of energy utilization and environmental protection, the introduction of this policy is undoubtedly a positive step. Against the backdrop of increasingly severe global climate change, countries are actively seeking ways to reduce carbon emissions and improve energy efficiency, and Iran's move is a positive response to this background.

In general, the introduction of Iran's new Bitcoin mining regulations is conducive to the development of the digital economy and the sustainable use of energy. The implementation of this policy will further promote the development of Iran's digital currency market, and also provide some reference and inspiration for other countries in digital economy and energy utilization. It is hoped that in future development, Iran will be able to better balance the relationship between digital economic development and environmental protection, and contribute to the sustainable development of the global digital economy.

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Commenting on the country's mechanism for producing (mining) digital currencies, Iran's Minister of Economy and a senior lawmaker announced that mining of Bitcoin and other cryptocurrencies will be provided with three-phased timers that will be turned off during peak electricity consumption periods.

Chairman of the Iranian Parliament's Economic Committee, Elias
Hazrati, said: "After the public, economic participants and members of parliament demanded greater transparency in mining of digital currencies such as Bitcoin, the Parliament's Economic Committee decided to hold a meeting to make the necessary decisions on the issue."

Elias Hazrati said that Iran currently has no laws on digital currencies.

"The Parliament's Economic Committee believes that there is a possibility of delay in passing the necessary decisions on digital currencies. Therefore, the committee has invited the Minister of Finance and Economic Affairs, the Minister of Industry, Mining and Trade, the Minister of Energy, officials from the Central Bank, the Passive Defense Organization, and the Ministry of Communications and Informatization to attend the meeting to discuss in detail the advantages and disadvantages of using digital currencies and their legal procedures."

Elias Hazrati stressed that the Iranian government has recognized that digital currencies are an industry.

"The government has developed a plan that will circumvent the disadvantages of digital currencies and amplify their advantages. The plan also ensures that people can easily obtain the necessary licenses from the Ministry of Industry, Mining and Trade to enter the field."

Elias Hazrati also said that Iran has decided to provide electricity for digital currency mining at a reasonable price.

"The government has also decided to develop a peak electricity consumption mechanism to prevent power problems. Therefore, relevant agencies will provide digital currency mining activities with a three-stage timer, which will be turned off during peak electricity consumption."

Meanwhile, Iran's Minister of Finance and Economy Farhad Dejpasand said that the government recognizes digital currencies. He also emphasized the ban on mining digital currencies during peak electricity consumption.

Farhad Dejpasand added that the price of electricity used to produce digital currencies will be determined based on the average price of exported electricity. But according to a statement by Iran's Deputy Energy Minister Homayoon
Ha'eri on Sunday, the price of electricity exports is not fixed and is based on various changing factors, such as fuel prices in the Persian Gulf region.

Earlier on July 22, the Iranian Chamber of Industry, Mining and Agriculture had posted on its official website that the country's economic committee had approved the establishment of a cryptocurrency mining mechanism in the country.

Earlier (last Sunday), Iran's Mehr News Agency reported that Jamal Arounaghi, deputy director of the Iranian Customs Administration (IRICA), said that there is still no license for the import of cryptocurrency mining machines. IRICA currently only determines and defines the tariff quota for cryptocurrency mining equipment. At the request of some organizations, IRICA has notified the tax rate for mining equipment used for cryptocurrency.
Jamal also said that if the government agrees to import equipment for the production of cryptocurrency, IRICA will implement legal directives. Jamal emphasized that the Ministry of Industry, Mining and Trade and the Central Bank should issue approval letters for the import of cryptocurrency equipment into the country.