The increased penalties for unauthorized crypto mining in Iran include additional fines and imprisoning the offender. crypto cryptocurrency bitcoin $BTC
Iran has drafted new rules to increase penalties for illegal cryptocurrency mining in the country, including additional fines and imprisonment. “Any use of subsidized electricity intended for households, industrial, agricultural, and commercial subscribers for mining cryptocurrency is prohibited.
“Any use of subsidized electricity intended for households, industrial, agricultural, and commercial subscribers for mining cryptocurrency is prohibited,” Khodadadi said. The Iranian government approved cryptocurrency mining as an industry in 2019. In January 2020, the Ministry of Industry, Mine, and Trade issued over 1,000 licenses for cryptocurrency mining operations.
However, Iranian authorities said that some unauthorized miners are using household electricity for cryptocurrency mining, resulting in major issues for the country’s electricity industry. In December last year, crypto miners were
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