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Cryptocurrencies on Friday

According to the Democracy Index, North Korea is one of the most authoritarian countries in the world. Another authoritarian regime is Iran. Nevertheless, both of the countries are interested in the cryptocurrency market. North Korea even hosted a conference in April, and there will be another conference in 2020.

Iran, as well as North Korea, have to deal with sanctions imposed by the U.S. and other countries. As a result, Iran’s access to global financial institutions is quite limited. According to the information, the Iranian government is planning to introduce the annual licenses for crypto miners. The Iranian government plans to regulate the digital currency.

There are several requirements, such as the price of mining equipment, rental agreements, etc. Crypto miners will have to renew this license every year.

Based on the survey conducted by the market analytics firm Gate Trade, there are over 1,600 crypto users. Moreover, this is not the first decision of Iranian authorities regarding the cryptocurrencies.

For example, two months ago, in July, the Central Bank of Iran officially recognized crypto mining. It is worth mentioning that this was one of the most important decisions as it solved many problems for the local miners. The central bank even promised to develop the specific rules for cryptocurrencies.

Cryptocurrency news on Friday

On September 20, Bitcoin’s price rose above $10,000. Nevertheless, at one point, the price even fell to $9,637, which was the lowest point since the beginning of the week. On Friday, Bitcoin’s price was $10,102.

The price of second-largest digital currency which is the Ethereum, remained above $210. Ethereum’s price was $217. Litecoin’s price was $75.

Several countries are trying to develop the cryptocurrency market. Iran, with its economic problems, is not an exception. The cryptocurrency market may help to improve the situation in Iran.

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