Financial Tribune - Key entities in Iran's government are preparing to officially endorse the import of hardware required to mine cryptocurrency in complementary efforts aimed at backing crypto mining to help an economy under heavy pressure.

"Necessary coordination has been done with related entities to allow the flow of hardware needed to mine Bitcoin and other cryptocurrencies," Abolhassan Firouzabadi, the secretary of High Council of Cyberspace, was quoted as saying by IBENA.

On Sept. 4, Firouzabadi had announced that the administration of President Hassan Rouhani has accepted crpytocurrency mining as an industry that needs to be developed in Iran. He said HCC intends to establish a platform to legalize crypto mining, adding that the establishment of a certified online exchange is also being considered.