Iran has drafted new guidelines to extend penalties for unlawful cryptocurrency mining within the nation, together with extra fines and imprisonment. “Any use of sponsored electrical energy supposed for households, industrial, agricultural, and business 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 beneath the brand new regulation:
The elevated penalties embrace elevating fines by not less than three and at most 5 occasions, imprisoning the offender, and revoking the offender’s enterprise license.
“Any use of sponsored electrical energy supposed for households, industrial, agricultural, and business subscribers for mining cryptocurrency is prohibited,” Khodadadi mentioned.
The Iranian authorities authorised cryptocurrency mining as an business in 2019. In January 2020, the Ministry of Business, Mine, and Commerce issued over 1,000 licenses for cryptocurrency mining operations.
Nevertheless, 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 yr, crypto miners had been ordered to halt operations to forestall winter blackouts. In September, the authorities reportedly confiscated over 220,000 mining machines and shut down practically 6,000 unlawful crypto mining farms throughout the nation.
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