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Iran has drafted new guidelines to extend penalties for unlawful cryptocurrency mining within the nation, together with further fines and imprisonment. “Any use of backed electrical energy meant for households, industrial, agricultural, and industrial subscribers for mining cryptocurrency is prohibited.”
New Penalties for Unlawful Cryptocurrency Mining in Iran
An official with Iran’s Energy Era, Distribution, and Transmission Firm (Tavanir) mentioned the nation’s administration will approve new guidelines to extend penalties for unauthorized cryptocurrency mining, IRNA publication reported Sunday.
Mohammad Khodadadi Bohlouli defined that below the brand new legislation:
The elevated penalties embody elevating fines by at the very least three and at most 5 occasions, imprisoning the offender, and revoking the offender’s enterprise license.
“Any use of backed electrical energy meant for households, industrial, agricultural, and industrial subscribers for mining cryptocurrency is prohibited,” Khodadadi mentioned.
The Iranian authorities authorized cryptocurrency mining as an business in 2019. In January 2020, the Ministry of Trade, Mine, and Commerce issued over 1,000 licenses for cryptocurrency mining operations.
Nonetheless, Iranian authorities mentioned that some unauthorized miners are utilizing family electrical energy for cryptocurrency mining, leading to main points for the nation’s electrical energy business. In December final 12 months, crypto miners had been ordered to halt operations to stop winter blackouts. In September, the authorities reportedly confiscated over 220,000 mining machines and shut down almost 6,000 unlawful crypto mining farms throughout the nation.
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