Iran’s authorities will tighten the punishment for unlicensed mining – Bits Media

In the Islamic Republic of Iran, they are going to adopt the law, according to which illegal use of electricity for cryptocurrency mining is punishable by a large fine and prison.

Official representative of the state electric power company Tavanir Mohammad Vanity (Mohammad Khodadadi Bohlouli) stated, that toughening the punishment implies an increase in fines by at least three and a maximum of five times, imprisonment, And in the case of a repeated violation - the review of the permission to do business.

The Necadadi insists: The abuse of subsidized electricity for mining cryptocurrencies worsens the quality of power supply of the national energy network and spoils the household technique of citizens - TVs, refrigerators and air conditioners.

"Mining of cryptocurrencies using electricity, intended for home, industrial, agricultural and commercial subscribers, is illegal ", - emphasizes the representative of energy.

After the Iran of Minging Government approved as industrial activities in 2019 year, A boom of cryptocurrency production began in the country - thanks to cheap electricity. In recent years, Iranian energy companies have begun to consider the opportunity to increase tariffs for miners.

In January 2020 year, the Ministry of Industry and Trade of Iran issued more 1 000 Licenses for the activities of mining companies. Against the background of the legalization of the industry, a number of unregistered companies began to use household electricity for mining cryptocurrencies. it, They say officials, created serious problems for the country's energy, which periodically encounters problems, caused by drought.

In May 2021 for years, the official representative of the Iranian Ministry of Energy on the electricity sector Mostafa Rajabi Mashhadi (Mostafa Rajabi Mashhad) stated, that unregistered mining farms will be required to pay a large fine. In addition to paying fines, miners will have to compensate for the damage, The energy industry applied. In March, the Ministry of Industry and Trade of Iran said, that it plans to deal with the lack of electric energy, Tighty rules for mining companies.