Topic: Iranian Bitcoin Mining Ban Lifted after four Months - page 4. (Read 354 times)
Well for one it is understandable that the reason why they ban it in the first place is because of the illegal activities miners were doing in the past. Now that they have settled it and possibly made some laws about mining activities then they lifted the ban and made sure that the miners this time should comply with the rules or else they will not be allowed to operate. Iran was just careful about its resources especially it is being antagonized in the west.
Besides the pretty good news about Bitcoin adoption, of course it can't be separated from the involvement of supportive government policies. However, I want to know more about how the government in Iran is often associated with Crypto payment transactions for illegal activities such as weapons payments to fund terrorists. I hope that the government can minimize this in the future if mining activities will reopen in the near future.
Good news from Iran 
. In may of this year, the Iranian government placed a ban on crypto mining over concerns of huge electricity consumption and the constant blackouts experienced by the country.
https://www.indiatoday.in/technology/news/story/bitcoin-and-other-crypto-mining-banned-in-iran-because-its-high-power-use-makes-it-dirty-money-1807308-2021-05-26
True to their word, the ban has been lifted and only licensed miners are allowed to come back online. Unlike China, Iran has embraced crypto mining and since 2020, the crypto mining sector has issued out over 1,000 crypto mining licenses. It is a highly regulated sector. With a projection of providing $1 billion in annual revenue for the country.
https://cointelegraph.com/news/bitcoin-mining-banned-in-iran-until-september
I believe in no time the country would make it legal for local merchants to accept payments in bitcoin since it is already being use for import payments.
. In may of this year, the Iranian government placed a ban on crypto mining over concerns of huge electricity consumption and the constant blackouts experienced by the country.Quote
“The authorised mining of cryptocurrencies does not consume much electricity and needs just around 300 megawatts. However, it is the unauthorised crypto miners that consume a lot of electricity; they consume about 2,000 megawatts," President Rouhana said, according to a local publication Iran Front Page.
“As of today, it will be forbidden even for authorised miners to mine cryptocurrencies until late September,”
“As of today, it will be forbidden even for authorised miners to mine cryptocurrencies until late September,”
https://www.indiatoday.in/technology/news/story/bitcoin-and-other-crypto-mining-banned-in-iran-because-its-high-power-use-makes-it-dirty-money-1807308-2021-05-26
True to their word, the ban has been lifted and only licensed miners are allowed to come back online. Unlike China, Iran has embraced crypto mining and since 2020, the crypto mining sector has issued out over 1,000 crypto mining licenses. It is a highly regulated sector. With a projection of providing $1 billion in annual revenue for the country.
Quote
Iran began a process of nationalizing its crypto mining sector back in 2020 after months of dealing with illegal crypto mining activities. In January 2020, the country issued about 1,000 licenses for cryptocurrency mining in the country.
https://cointelegraph.com/news/bitcoin-mining-banned-in-iran-until-september
I believe in no time the country would make it legal for local merchants to accept payments in bitcoin since it is already being use for import payments.
Bitcoin is actually really useful for Iran right now, because their own currency is essentially worthless on the world markets due to the sanctions against them. It seems like the Iranian leadership is torn between people using cryptocurrency which helps them ignore internal pressure/repression and their citizens being able to send money back home via the blockchain which will boost the countries overall funds. Iran did actually used to be quite a big player when it came to Bitcoin mining, but I guess it might have picked up a bad reputation within a country that is struggling to keep the power on for average citizens - however it is yet another source of money for the regime.
Iran made ban on bitcoin mining after gathering information of mining farms around the country. According to the data it is clear that more than 90% miners were using illegal electricity and without proper licensing. Only 5-10% were doing it in a legal way with proper licensing from the respective authorities. This illegal usage of electricity resulted on the deficit of day to day needs around the country. Now the government might've made required changes and lifted the ban.
Good news from Iran . In may of this year, the Iranian government placed a ban on crypto mining over concerns of huge electricity consumption and the constant blackouts experienced by the country.
https://www.indiatoday.in/technology/news/story/bitcoin-and-other-crypto-mining-banned-in-iran-because-its-high-power-use-makes-it-dirty-money-1807308-2021-05-26
True to their word, the ban has been lifted and only licensed miners are allowed to come back online. Unlike China, Iran has embraced crypto mining and since 2020, the crypto mining sector has issued out over 1,000 crypto mining licenses. It is a highly regulated sector. With a projection of providing $1 billion in annual revenue for the country.
https://cointelegraph.com/news/bitcoin-mining-banned-in-iran-until-september
I believe in no time the country would make it legal for local merchants to accept payments in bitcoin since it is already being use for import payments.
. In may of this year, the Iranian government placed a ban on crypto mining over concerns of huge electricity consumption and the constant blackouts experienced by the country.Quote
“The authorised mining of cryptocurrencies does not consume much electricity and needs just around 300 megawatts. However, it is the unauthorised crypto miners that consume a lot of electricity; they consume about 2,000 megawatts," President Rouhana said, according to a local publication Iran Front Page.
“As of today, it will be forbidden even for authorised miners to mine cryptocurrencies until late September,”
“As of today, it will be forbidden even for authorised miners to mine cryptocurrencies until late September,”
https://www.indiatoday.in/technology/news/story/bitcoin-and-other-crypto-mining-banned-in-iran-because-its-high-power-use-makes-it-dirty-money-1807308-2021-05-26
True to their word, the ban has been lifted and only licensed miners are allowed to come back online. Unlike China, Iran has embraced crypto mining and since 2020, the crypto mining sector has issued out over 1,000 crypto mining licenses. It is a highly regulated sector. With a projection of providing $1 billion in annual revenue for the country.
Quote
Iran began a process of nationalizing its crypto mining sector back in 2020 after months of dealing with illegal crypto mining activities. In January 2020, the country issued about 1,000 licenses for cryptocurrency mining in the country.
https://cointelegraph.com/news/bitcoin-mining-banned-in-iran-until-september
I believe in no time the country would make it legal for local merchants to accept payments in bitcoin since it is already being use for import payments.
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