Kiev: The first cryptocurrency reached $35,000 in Iran after
the government made a decision to legalize the activities related
to cryptocurrency mining.
According
to CryptoCompare, the bitcoin price on Iranian exchanges reached
a level of over 1.5 billion Iranian rials ($35,600) at some point. This
happened after the Supreme Council of Cyberspace of Iran announced the decision
to recognize mining a legal industry in the country, although the policy on
passing laws in this sphere has not yet been established. The government of the
country stated that the financial regulator will act as the body that makes
decisions in the crypto sphere.
To combat sanctions from the United States, Iran is
considering the possibility to create its national cryptocurrency. It is
reported that the project developed by the government has now been completed.
Events in the Islamic Republic occur against the
backdrop of a sharp decline in the bitcoin price. According to CoinMarketCap data on September 7, 7:04
(UTC), the price of the first cryptocurrency is $6,517. Over the past day, it
lost more than 8% in value and underwent a serious correction two times, first
at $400 for 40 minutes, then $500 for half an hour. Analysts believe that this
is due to the actions of an unknown large investor. Most other cryptos lost
significantly in value too.