Ibena reported that Abolhassan Firouzabadi, the Secretary of Iran's Supreme Council of Cyberspace, said that it is vital to legislate on cryptocurrencies given the increase in the number of cryptocurrency-related companies in the country. 

He added that because of the function of cryptocurrencies in economic and monetary systems, they should be under regulatory supervision. 

He said that a "cryptocurrency review" is under way in Iran's parliament economic commission's cryptocurrency economic committee, after which the issue will be passed on to the government's cabinet for legislating. 

"Due to the importance of cryptocurrencies, Iran's National Center of Cyberspace wants the cryptocurrencies' review in the cabinet to be carried out as fast as possible. It is expected that in the near future the issue will be reviewed and the government announces its comment and issues required decrees to ministries and organizations officially', Firouzabadi said.

IBENA, which is affiliated to the Central Bank of Iran, reported that Abolhassan Firouzabadi, the Secretary of Iran's Supreme Council of Cyberspace, has stated that cryptocurrency mining "has been accepted as an industry in the government".

Firouzabadi said that launching a national cryptocurrency remains "promising" and that this could be used as a "financial transaction instrument" with the country's trade partners to ease the pressure from US economic sanctions.

The official also said that the decision to accept mining has been recognised by other government agencies, such as the Ministry of Communications and Information Technology, the Central Bank, the Ministry of Industry, Mining and Trade, the Ministry of Energy, as well as Ministry of Economic Affairs and Finance.

However, a final policy for legislating the activity has not yet been declared.

With regard to cryptocurrency trading activities, the official further said "a decision-making authority will declare the framework and final policies for trade and participation of start-ups and trade activists in the cryptocurrency sphere by September but no definitive decision has been taken yet".

The move to recognise cryptocurrency mining comes as the country is taking efforts to create its own central bank digital currency as a means to bypass the US economic sanctions, which were recently re-imposed by U.S. President Donald Trump.

"Virtual currencies have the option to be used for money laundering, supporting terrorism, and exchange of sums between wrongdoers," INRA said, quoting a CBI's circular. According to the circular, financial institutions must now avoid the sale or purchase of cryptocurrencies, as well as not take steps to promote them.

The press release states that the circular was based on a ban on cryptocurrencies passed by Iran’s anti-money laundering body in the last Iranian calendar year (which ends on 20 March 2018).