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Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid…
For years, the country has heavily subsidized its electricity production leading to extremely low prices. It claims that this has now become unsustainable.
The Middle Eastern nation has gone against licensed crypto miners and will shut down all 118 legal ones in two days, according to a recent report. The country’s authorities have…
Iran’s Ministry of Intelligence has reportedly blocked almost 10,000 bank accounts over suspicious foreign currency and cryptocurrency transactions. The action was carried out in collaboration with the country’s central bank.…
Authorities in Iran have shut down close to 7,000 unauthorized facilities for cryptocurrency mining in the past two years, local media revealed. According to a report, most of the illegal…
Nations like Russia and Iran may utilize cryptocurrency mining to monetize their energy resources and circumvent sanctions, the International Monetary Fund predicts in a report. Repercussions of the war in…
Iran has drafted new rules to increase penalties for illegal cryptocurrency mining in the country, including additional fines and imprisonment. “Any use of subsidized electricity intended for households, industrial, agricultural,…
The Iranian authorities will reportedly impose harsher penalties on illegal cryptocurrency miners as some operators could even go to jail. Before that, the officials banned all digital asset mining endeavors…
The fines will reportedly triple compared to current rates, while repeated violations will lead to jail time.
Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance…