Iran Toughens Penalties for Illegal Crypto Mining
Main page News, Iran, Mining

The authorities in Iran have increased penalties for illegal crypto mining using subsidized electricity and introduced prison sentences for repeat offenders, local publication Tehran Times has reported citing a representative of the Ministry of Energy. According to him:

"Any use of subsidized electricity, intended for households, industrial, agricultural and commercial subscribers, for mining cryptocurrency is prohibited."

According to the country's authorities, the activity of miners creates problems with the electricity supply, contributes to the deterioration of the power grid and can cause damage to the devices of ordinary users.

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The new regulation also allows violators to lose their licenses for activities related to digital currency mining. In addition, these entities will be obliged to compensate for the damage they have caused to the country's power grid.

Iran periodically imposes restrictions on crypto mining. Thus, in May last year, the country's president Hassan Rohani announced a temporary ban on cryptocurrency mining due to electricity shortages, while licensed companies were allowed to resume operations in the fall.

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