Iran lifts ban on cryptocurrency mining – Bits Media

The Iranian government has returned permission to licensed mining companies to mine cryptocurrencies in the country. Temporary ban on mining lasted three months.

In May, the previous Iranian President Hassan Rouhani approved
The ban on the production of cryptocurrencies before 22 September c connection with mining overload of the country's energy networks. In the summer, the Iranian Ministry of Industry and Trade allowed
work of thirty mining enterprises in the country, however, in July, the work of licensed mining companies was again suspended.

The ban was introduced due to concerns about the instability of the country's electricity grid.. Iran experiences frequent power outages in summer due to extreme heat, this year the air temperature has risen
to 49 degrees Celsius. New President Ebrahim Raisi (Ebrahim Raisi) The ban on cryptocurrency mining has been lifted.

NEW: #Iran has permitted licensed cryptocurrency mining machines to resume operations after a three-month lull ordered by former President Hassan Rouhani.https://t.co/8jewQuVFXx

— Iran International English (@IranIntl_En) September 30, 2021

However, not all miners complied with the ban. In early September, the local energy company, together with the police, discovered and closed
5 380 illegal mining farms. The amount of confiscated equipment was 216 758 units.

Besides, Tehran Stock Exchange CEO Ali Sahraei resigned this week after, how law enforcement discovered
in the basement of the building there is working equipment for mining cryptocurrencies.