Main navigation

Iran Lifts Bitcoin Mining Ban

News
Thu, 09/30/2021 - 17:35
article image
Alex Dovbnya
Iran has removed a four-month ban on Bitcoin mining
Iran Lifts Bitcoin Mining Ban
Cover image via stock.adobe.com
Read U.TODAY on
Google News

The Iranian government has lifted a temporary ban on Bitcoin mining that was imposed back in May, Iran International reports.

As reported by U.Today, ex-President Hassan Rouhani announced the four-month moratorium on the energy-guzzling process back in May.

Bitcoin miners were partially blamed for a slew of blackouts that took place in Tehran and other Iranian cities.

Related
Iran Plans to Ban Bitcoin Payments
From now on, licensed Bitcoin miners will be able to operate in the country without facing any restrictions.

That said, an estimated 85% of all cryptocurrency mining operations have been set up in the country illegally.

Earlier this week, dozens of ASICs were discovered in the building of Iran’s largest stock exchange, which prompted the swift resignation of CEO Ali Sahraee.  

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.