Based on Eshaq Jahangiri’s announcement, everyone planning to mine cryptocurrency has to register. Apart from others, applicants have to disclose their name, the size of their mining farms and their mining equipment. Once the registration period is over, Iranian Ministry of Industry, Mines and Trade publishes an official list of approved crypto miners.
Analysts perceive the directive as another measure to control economic activities in the country. With imposing the need for registration, the government plans to fight crypto mining, which currently appears in grey economy. Markets are expected to act rather in the opposite way and miners are likely to leave Iran rather than to reveal their identity to the government. Mining equipment is often smuggled into Iran and it’s hard to guess whether and how many miners will register.