A think tank affiliated with the Iranian Presidency has unveiled a study report that encourages the use of cryptocurrencies in circumventing sanctions against the country. In addition, the report also claims the government could potentially â€œgenerate US$2 million a day and $700 million a year in direct revenue from cryptocurrencies.â€
Meanwhile, as reported by one local media outlet, the authors of the report say Iran can increase employment opportunities across its economy if it enables the creation of more bitcoin mining farms. In their report, the authors assert that:
The authors then go on to suggest that â€œfor every megawatt of electricity consumption about nine people are directly employed.â€
However, the report seemingly urges the Iranian government to consider regulating cryptocurrency activities. In justifying this recommendation, the report states that â€œregulated cryptocurrency activity in Iran might also help to prevent foreign currency from leaving the country.â€
Beating Sanctions With Newly Extracted BTC
Predictably, the report also touches on why cryptocurrency mining provides a unique opportunity for the Iranian government to circumvent sanctions. The report explains:
Also in the report, the authors claim that the creation of more cryptocurrency mining farms will help Iran to â€œreduce electricity losses.â€
In their conclusion, the authors urge the Iranian government to enable the â€œcollective miningâ€ of cryptocurrencies as well as the â€œcreation of mining pools next to power plants where possible.â€
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