Iran to Increase Penalties for Unauthorized Cryptocurrency Mining

Iran has drafted caller rules to summation penalties for amerciable cryptocurrency mining successful the country, including further fines and imprisonment. “Any usage of subsidized energy intended for households, industrial, agricultural, and commercialized subscribers for mining cryptocurrency is prohibited.”

New Penalties for Illegal Cryptocurrency Mining successful Iran

An authoritative with Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) said the country’s medication volition o.k. caller rules to summation penalties for unauthorized cryptocurrency mining, IRNA work reported Sunday.

Mohammad Khodadadi Bohlouli explained that nether the caller law:

The accrued penalties see raising fines by astatine slightest 3 and astatine astir 5 times, imprisoning the offender, and revoking the offender’s concern license.

“Any usage of subsidized energy intended for households, industrial, agricultural, and commercialized subscribers for mining cryptocurrency is prohibited,” Khodadadi said.

The Iranian authorities approved cryptocurrency mining arsenic an manufacture successful 2019. In January 2020, the Ministry of Industry, Mine, and Trade issued implicit 1,000 licenses for cryptocurrency mining operations.

However, Iranian authorities said that immoderate unauthorized miners are utilizing household energy for cryptocurrency mining, resulting successful large issues for the country’s energy industry. In December past year, crypto miners were ordered to halt operations to forestall wintertime blackouts. In September, the authorities reportedly confiscated implicit 220,000 mining machines and shut down astir 6,000 amerciable crypto mining farms crossed the country.

What bash you deliberation astir Iran expanding penalties for unauthorized cryptocurrency mining? Let america cognize successful the comments conception below.

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