An Iranian Think Tank Recommends the Use of Cryptocurrencies to avoid Sanctions
An Iranian Think Tank Recommends the Use of Cryptocurrencies to avoid Sanctions

An Iranian think tank 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 “generate US$2 million a day and $700 million a year in direct revenue from crypto currencies.”

The Iranian Presidential Center for Strategic Studies, a think tank attached to President Rouhani’s office, has published a detailed report stressing the necessity for the regime to use cryptocurrencies to generate extra income.

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Extracting cryptocurrencies, the report states, could provide economic benefits to several different sectors of the country’s economy.

It claims that if the government intervenes seriously it could generate US$2 million a day and $700 million a year in direct revenue from cryptocurrencies. Revenues from receiving transaction fees for the entire bitcoin network would generate $22 million a year for the Iranian government, it says.

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The report also states that creating more facilities such as Bitcoin mines in Iran would lead to an increase in employment. Cryptocurrency miners, it says, also have a basic need for electricity, and for every megawatt of electricity consumption about nine people are directly employed.

“If large mining farms are established,” the authors write, “the need to employ manpower for monitoring and repair, security, electrical engineers and technical staff related to hardware and software equipment will increase, which leads to more job opportunities in other sectors.”

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