The customs administration of Iran has apparently not given out any licenses for working with cryptocurrency mining equipment. This is partly due to the government not approving the ability to do so. Thanks to reporting via the Mehr News Agency, this news comes to us on July 21.
Tariffs Don’t Equal Legality
Jamal Arounaghi, the Deputy President of the Islamic Republic of Iran Customs Administration (IRICA), reveals that his group, the ones responsible for giving out licenses for mining devices, hasn’t handed any out. This is partly because the mining equipment is banned entirely in the country of Iran. On top of this, the Administration also asks for a tariff any time that related devices are imported. Essentially, they get away with this by defining mining materials as computers and central processors.
That said, just because there is a tariff on something, doesn’t mean that it’s legal. For example, the IRICA has tariffs on drugs and other illegal items, claims Arounaghi. That said, if the administration does start to allow the import of crypto mining software, the necessary laws and regulations will be put in place.
Earlier this month, we reported on the country of Iran potentially using Bitcoin to subvert tariffs placed on them by the United States. At that time, we heard from Sigal Mandelker, the Treasury’s undersecretary for terrorism and financial intelligence. Mandelker had said:
“As Iran becomes increasingly isolated and desperate for access to U.S. dollars, it is vital that cryptocurrency exchanges, peer-to-peer exchangers and other providers of digital currency services harden their networks against these illicit schemes. Cybercurrencies are effective in bypassing sanctions when it comes to small transactions, but we do not see any special impact in them as far as mega-transactions are concerned. We cannot use them to go around international monetary mechanisms.”
It remains to be seen how the country will handle how to buy cryptocurrencies. But, we’ll learn in due time.