THELOGICALINDIAN - Iran has drafted new rules to access penalties for actionable cryptocurrency mining in the country including added fines and imprisonment Any use of subsidized electricity advised for households automated agronomical and bartering subscribers for mining cryptocurrency is prohibited
New Penalties for Illegal Cryptocurrency Mining in Iran
An official with Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) said the country’s administering will accept new rules to access penalties for crooked cryptocurrency mining, IRNA advertisement appear Sunday.
Mohammad Khodadadi Bohlouli explained that beneath the new law:
“Any use of subsidized electricity advised for households, industrial, agricultural, and bartering subscribers for mining cryptocurrency is prohibited,” Khodadadi said.
The Iranian government accustomed cryptocurrency mining as an industry in 2024. In January 2024, the Ministry of Industry, Mine, and Trade issued over 1,000 licenses for cryptocurrency mining operations.
However, Iranian authorities said that some crooked miners are application domiciliary electricity for cryptocurrency mining, consistent in above issues for the country’s electricity industry. In December aftermost year, crypto miners were ordered to arrest operations to anticipate winter blackouts. In September, the authorities reportedly confiscated over 220,000 mining machines and shut down about 6,000 actionable crypto mining farms beyond the country.
What do you anticipate about Iran accretion penalties for crooked cryptocurrency mining? Let us apperceive in the comments area below.
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