The Iranian Parliament Commission on Economy has reportedly put up a new bill, looking to adjust the crypto use across the nation, and offer a more clearly established miners-focused legal framework. 

Specifically, lawmakers have reportedly produced a drafted version of the “Support for cryptocurrency mining and organizing the domestic market for exchanges” bill, initially disclosed by the Iranian parliament on June 23rd. 

Should it receive approval, the bill would reportedly equip Iran’s central bank with the status of the entity having regulatory authorization to facilitate the exchange of cryptocurrencies in the nation. 

As included in the scope of the bill, every digital coin could not become a payment instrument within Iran, apart from a “national” one, purportedly a central bank digital currency or tokens minted in the private sector.

However, this development could potentially be focusing on crypto mined by establishments obtaining sufficient licenses in Iran, since the Central Bank of Iran has stated in the past that it is spending extensive efforts to make sure that every virtual coin traded locally is mined from Iran-based facilities.

The proposed bill would reportedly also subject crypto mining to the regulatory scope of the Ministry of Industry, Mine and Trade, giving it the authority to provide licenses for farms. 

Licensed mining entities fully or just partly running a power plant could submit an application with the country’s Energy Ministry, regarding the selling off any surplus electricity.

Crypto mining as industrial activity has reportedly been legally accepted in Iran starting 2019, with the requirements including the miners obtaining sufficient licenses and following regulations.