Iran Moves Forward With Tariffs Against Crypto Mining

After much deliberation, the Economic Commission of the Islamic Republic of Iran has officially submitted restrictions on energy costs for crypto miners in the country.  Cryptocurrency has been a particularly hot-button issue in Iran over the past several months, as it represents a borderless, accessible currency that is not subject to international sanctions against the…

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Iran Finalizes Electricity Pricing Scheme for Cryptocurrency Miners

The Iranian Economic Commission has reportedly finalized a tariff scheme for cryptocurrency miners, according to a July 21 report from Iranian economic daily Financial Tribune.  Per the report, Energy Minister Homayoon Ha’eri announced that, while the tariff scheme has been finalized, it is awaiting approval from the Cabinet of Iran — a governmental body consisting…

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Iranian Energy Grid Blames 7% Consumption Increase on Bitcoin Miners

Mostafa Rajabi Mashhad, the spokesperson for Tavanir, an Iranian state-operated grid entity, has explained that electrical consumption has spiked by 7% in comparison to the previous year. Rajabi blames illegal cryptocurrency mining operations for the country’s increased electrical consumption and has warned that illicit mining facilities will be cut off from the grid. Also Read:…

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Traders Are Now Banned From Using Localbitcoins Exchange in Iran

Traders from Iran have been banned from using the peer-to-peer trading platform Localbitcoins.com within the country. The Iranian section of the website displays a short message that states that the exchange is “currently not available.” The news follows significant Iranian rial trade volume on the Localbitcoins platform, which has been climbing steadily over the last…

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