Iranian government to cut power supply for the country’s legal crypto mining rigs
For years, the country has heavily subsidized its electricity production leading to extremely low prices. It claims that this has now become unsustainable.
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Iran Will Reportedly Cut Off Electricity to All Legal Crypto Miners
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 Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions
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.…
Number of Busted Illegal Crypto Mining Farms in Iran Nears 7,000
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…
Sanctioned Russia, Iran May Turn to Crypto Mining to Monetize Energy, IMF Says
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 to Increase Penalties for Unauthorized Cryptocurrency Mining
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,…
Iran Doubles Down on its War Against Illegal Crypto Miners (Report)
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…
Iran to stiffen penalties for illegal use of subsidized energy in crypto mining
The fines will reportedly triple compared to current rates, while repeated violations will lead to jail time.
Iran Will Not Allow Crypto Payments, Prepares to Pilot Digital Rial
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…
CEXs refuse blanket asset freeze of all Russian users, though questions linger
If Western sanctions ramp up, CEXs may be forced to ban all Russian users from using their services, as they have previous done in Iran.