Iranian authorities have allowed mining of virtual currencies, noting the associated risks, President’s website reported.

According to the statement, the Council of Ministers agrees with the mining of cryptographic processing products.

Cryptocurrencies can reportedly be used taking into account the associated risk, and they will not be supported by the government and the banking system.

It is noted that virtual currencies should not be used in internal transactions and will be taxed as in other industries, The Cryptocurrency Post reported.