(TRUSTNODES) Iran has hinted at a plan to legalize cryptocurrencies in the country “as soon as possible.”
Led by President Hassan Rouhani, Iran says it wants to legalize the crypto activity to protect people’s capital.
The country will lay down laws and instructions regarding the cryptocurrencies in the suggested move.
Although Iran has no legal framework for digital assets, it allowed the use of bitcoin for imports last year.
Iran has been attractive to Chinese crypto miners due to its cheap energy and less-hostility to digital assets unlike the neighboring Beijing.
Iran’s President called for collaboration in the intended move, despite having suspended all crypto mining in the country until the end of summer.
With Iran’s elections due next week, it remains to be seen whether the new administration will adopt the proposed crypto legislation.
BTCUSD is down 1.56%, ETHUSD is down 4.16%.
