According to Press TV, the Minister of Economy and Finance of Iran, Farhad Dejpassand stated that a meeting about cryptocurrencies, their legality and regulations will be held soon. Dejpassand hopes that a bill approved earlier this year will be turned into law after it is submitted to the cabinet session.

During an appointment with members of the Iranian Parliament, the Finance Minister said that as the bill gets approved the ban that was placed on cryptocurrencies last year will be destroyed.

Dejpassand believes that crypto regulations should help citizens of the country utilize the benefits of the new technology to the fullest.

Two weeks earlier Abdolnaser Hemmati, The Governor of the Central Bank Iran (CBI), declared that the authorities are planning to legalize the mining of crypto coins. Yet, the governor did not clarify whether the bill would make cryptocurrency trading legal or the Central Bank of Iran would recognize them as legal tender.

In late 2017, cryptocurrency and other related activities in Iran were banned because of money laundering concerns. Businesses and banks around the country were warned to stop the use of crypto coins and crypto mining businesses were shut down.

the Governor of the Central Bank, as well as the Finance Minister, has suggested that crypto mining would be allowed only with specific licenses and if the large electricity bills are paid for.