According to Blockchain Analytics company Elliptic claims Iran could net up to $1 billion in annual Bitcoin mining revenue. It’s noted that In Iran, Cryptocurrency mining farms use up to 600 megawatts of electricity. Iranian Government now allows payment of imports with mined coins, Iran have also set out a task force to monitor the use of electricity in mining crypto. This is a good upgrade for the country inspite their bias against the industry.
Dubai Airport Free Zone Authority (DAFZA) partners with United Arab Emirates’ Securities and Commodities Authority (SCA). DAFZA will enable regulated cryptocurrency trading. SCA is the financial markets supervisor across the UAE and will manage crypto offering, issuance, listing and trading within the free zone. Securities and Commodities Authority will also manage every vital Crypto Trading-related approval and licensing for different companies.
Enter Tom Tugendhat, Conservative member of Parliament (MP) for Tonbridge and MallingTugenhat said, the treasury needs to create a safe space for crypto development because recognizing this new economy will shape a new electronic age. He believes crypto is important and it is not going away, as people get better with the space of crypto development. Transactions are now faster, digital and global, which in essence allows the maintenance of records without risk of data being pirated.