Bitcoin [BTC] hits $24000 in Iran after government recognizes cryptocurrency mining as an industry

Iran has recently announced that they will begin to treat cryptocurrency mining as an industry. This comes after increased pressure on the country enforced by changing economic sanctions imposed by the United States. Amidst this bullish news, the price of Bitcoin [BTC] was reportedly around $24000 [converted] on some Iranian exchanges.

Price of BTC on EXIR exchange | Source: EXIR

Price of BTC on EXIR exchange | Source: EXIR

The exchange platform Exir reported a price of 1,020,000,000 IRR for 1 Bitcoin, bringing the value of the coin above its previous all-time high of $20000. The current price of the cryptocurrency is around $7300. The price of Ethereum was also inflated to be around $900, compared to its current price of $280.

The Iranian foreign exchange and monetary policy regulator, the Central Bank of Iran, is all set to draft a framework of policies for the newly created industry of cryptocurrency mining. According to Iran’s Supreme Council of Cyberspace’s Secretary, Abolhassan Firouzabadi, the policy is set to be…

Read Full Story : AMBCrypto

2018-09-05 09:00:38

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