Iran Greenlights Bitcoin, Crypto Payments For Imports – Bitcoin Magazine

  • Iran has passed legislation establishing a legal framework for bitcoin and other cryptocurrencies.
  • Under the new law, cryptocurrency can be used as payment for imports to the country by government and local businesses.
  • The law also addresses fuel supply and electrical consumption for bitcoin mining.

Iran passed an act which enables the use of Bitcoin and cryptocurrency payments for imports through a comprehensive legal framework, per a report from local news outlet Tasnim.

According to the report, Iranian Minister of Industry, Mine and Trade Reza Fatemi Amin revealed that the recently passed law defines regulations on cryptocurrencies, addresses supply concerns for fuel and electricity costs for mining and provides authorization for the administration to use cryptocurrencies.