New technologies, including blockchain and cryptocurrency mining, have helped Iran to increase budget receipts and withstand foreign sanctions, according to the country’s minister for economy and finance. The high-ranking official believes the government can’t interfere with their development for too long.
Government Official Cautions Against Impeding Crypto Development
Over the past few years, Tehran has moved closer to reaching its income tax targets, Iran’s Minister of Economic Affairs and Finance, Farhad Dejpasand, remarked recently. He revealed that the implementation of new technologies accounts for about a third of the budget revenue growth. Commenting on the data, Dejpasand elaborated:
Blockchains will account for 10 percent of the world’s gross domestic product in the next four years. As electricity consumption has increased we limited the mining of cryptocurrencies, while in the long run, we cannot stand in the way of…