Iran banned cryptocurrency mining in May 2021 due to power outages across the country. The country announced that it lifted the ban in March 2022 by introducing new regulations and crypto mining laws in this area. Iran now imposes stricter regulations on the laws in question.
Will Severe Penalties for Illegal Crypto Mining
The Iranian Government has announced that it will introduce new regulations and new penalties to prevent illegal crypto mining.
According to Iran’s official news agency IRNA, fines for illegal cryptominers will be increased by a minimum of three to a maximum of five times, and will also include new provisions such as regulation, jail time, revocation of operating license in case of repeated violation. will be changed accordingly.
Iran Electricity Production and Distribution (TAVANIR) official Mohammad Khodadadi Bohlouli gave the following statements on the subject;
“The use of cheap electricity for agriculture, industry and commercial areas as well as household electricity is prohibited for cryptocurrency mining. The use of cheap electricity provided for these areas in cryptocurrency mining reduces the quality of the electricity supply of the national grid and hence people’s television, refrigerator, air conditioner, etc. It will damage your electrical equipment.”
The official said that the abuse of subsidized electricity for cryptocurrency mining has degraded the quality of the national grid’s electricity supply and destroyed people’s electrical devices such as televisions, refrigerators and air conditioners.
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