A Comparative Study of the Nature and Legislative Scope of the Sale and Mining of Cryptocurrencies in the Laws of Iran, the European Union, and the United States

Abstract

With the expansion of blockchain technology and the increasing use of cryptocurrencies in financial transactions, extensive legal developments have emerged in the field of regulation of this domain. The purpose of this study is to conduct a comparative examination of the nature and legislative scope of the sale and mining of cryptocurrencies in Iran, the European Union, and the United States in order to identify similarities, differences, and legal gaps. This research has been conducted using a descriptive–analytical method, and the data have been collected through an examination of national laws, international instruments, regulatory guidelines, and judicial practices across the three comparative jurisdictions. In Iran, legal regulations concerning cryptocurrencies are still in the process of development; the sale and purchase of cryptocurrencies is generally permitted, but cryptocurrencies are not recognized as a legal means of payment. Cryptocurrency mining is allowed under specific conditions and requires obtaining a license from the Ministry of Industry, Mine, and Trade. In contrast, the European Union has adopted a more comprehensive approach. The Markets in Crypto-Assets Regulation (MiCA) provides a clear legal framework for activities related to cryptocurrencies and enhances transparency in cryptocurrency transactions and mining. In the United States, cryptocurrency-related regulations vary at both the federal and state levels. Institutions such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) play a significant role in regulating this field. Cryptocurrency mining is permitted in many states, subject to compliance with environmental and energy regulations. The comparative analysis indicates that Iran requires the formulation of a more comprehensive and transparent legal framework for managing cryptocurrency-related activities, while the European Union has taken an effective step toward regulation through the adoption of the MiCA framework. In the United States, although the diversity of state-level regulations creates certain challenges, the overall approach continues to support innovation. For Iran, drawing on the experiences of the European Union—particularly in terms of regulatory transparency and investor protection—can be highly beneficial.