Fri, March 29

Search Results for: iran

Iranian Power House Warns of Stringent Action on Illegal Crypto Mining

Fines for illicit mining actions have been raised by 400 percent. First-time offenders would be denied access to subsidized energy for three months. Iran’s Tavanir power distribution company has implemented a new set of stringent procedures to combat illegal crypto mining. Fines for illicit actions have been raised by 400

July 11, 2022 2 mins read

Iran Expected To Launch Countries Pilot Version of Digital Rial by Aug 23

Salehabadi said the pilot project would begin in one of the countries’ provinces.  Only the monetary authority can issue and control the supply of crypto rial. According to the Persian calendar’s Shahrivar month, which begins on Aug 23, Iranian officials are preparing to begin a pilot program for the crypto

June 26, 2022 2 mins read

Iran Decides To Cut Power Supply For Crypto Mining Activities

Iranian authorities issued permits to 1,000 crypto miners in January this year. It was estimated that illicit miners used roughly 600 megawatts of electricity. The Iranian Ministry has decided Energy curtail the energy supplied to the country’s officially recognized crypto mining operations. According to Tehran Times, this decision will come

June 20, 2022 1 min read

9,219 Bank Accounts Frozen by Iran Over Suspicious Crypto Transactions

The Ministry of Finance froze more than 9,219 bank accounts belonging to 545 people. Iranian authorities are also taking action against cryptocurrency mining beyond the law. According to a statement released Saturday, foreign cash and cryptocurrency transactions have been deemed suspicious by Iran’s Ministry of Intelligence. The Ministry of Finance

May 17, 2022 1 min read

Iran Resumes Bitcoin Mining Industry After Three-Month Ban

The government banned mining for three months in May. Officials in Iran have been chasing unlicensed miners. According to the Financial Tribune, the Iranian Ministry of Industries, Mining, and Trading has lifted a three-month ban on bitcoin mining. Iran has long known that Bitcoin mining is a viable alternative for

October 2, 2021 2 mins read

Iranian Regulators Plans to Ban Bitcoin as Payment

Iranian Regulators plan to set up their own cryptocurrency as it plans to ban Bitcoin and other cryptocurrencies as a medium of payment inside the country. The Iranian parliament  proposed a regulation against the cryptocurrency usage within the country.  Ban of Bitcoin as a Payment Option  On July 2nd, Iranian

July 4, 2021 2 mins read

Iran Issued Authorized Licenses to 30 Crypto Mining Farms

The Iranian Government approved authorized licenses to 30 crypto mining farms to mint digital currencies. The authorities planned to prevent unlawful miners in the country.  Iran’s licensed crypto mining farms The crypto mining farms are extending across several regions of Iran including Tehran Province. So Iran’s authorities have so far

June 28, 2021 2 mins read

Licensed Crypto Miners in Iran Suffers Power Shut Down

The Iranian Government announces to plug-out the power for cryptocurrency miners due to over consumption of power. Illegal crypto mining affects the licensed digital currency miners. Unauthorized Crypto Miners consumes more power Iran worries about crypto mining centers consuming more power. This results in the shortage of electricity faced by

May 24, 2021 2 mins read

Bitcoin Mining in Iran May Reach Over $1B

Bitcoin Mining in Iran may reach over $1 billion in revenue Iran currently holds accounts for 4.5% of Bitcoin mining. Iran-based miners paid directly in Bitcoin. The regulated mining activities in Iran maybe reach more than $ 1billion in revenues. This may help the country elude economic sanctions inflicted by

May 22, 2021 2 mins read

DeFi Protocol Unstable Raises $2.5M, Eyes LRTfi Sector Development

Unstable Protocol is working to revolutionize the rapidly growing Liquid Restaking Token Finance (LRTfi) space, having raised $2.5 million in its most recent seed investment round. Several ETH-aligned funds, including Lattice, Laser Digital (Nomura Group), Blockchain Founders Fund, Assouline Ventures, Agnostic Fund, Artichoke Capital, Black Edge Capital, NewTribe Capital, and

March 27, 2024 2 mins read