9,404 Crypto Mining Devices Seized by Iranian Authorities Since March

Iranian Authorities Seize 9,404 Illegal Crypto Mining Devices Since MarchIranian authorities have seized nearly 10,000 illegal cryptocurrency mining devices since March. According to reports, many of the seized crypto mining rigs were operating in public locations that receive free or heavily-subsidized electricity, such as schools and mosques. Iran Confiscates Nearly 10K Crypto Mining Devices Kambiz Nazerian, head of Tehran Electricity Distribution Company, said Monday […]

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Iranian Association Calls for Stable Crypto Regulation as Government Plans Widespread Use of Crypto in Foreign Trade

Iranian Association Calls for Stable Crypto Regulation as Government Plans Widespread Use of Crypto in Foreign TradeIran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” a government official said. Imports Association: […]

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Iran Places First Official Import Order With Cryptocurrency Worth $10 Million

Iran Places First Official Import Order With Crypto Worth $10 MillionIran has placed its first official import order using cryptocurrency worth $10 million, according to a government official. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” the official added. Iran Uses Crypto to Place Import Order Iran placed its first official import […]

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Iran’s President Wants Crypto ‘Laws and Instructions’ Implemented as Soon as Possible

Iranian president Hassan Rouhani discussed cryptocurrencies at the most recent meeting of the government’s Economic Coordination Board and told participants that regulatory policy is needed to protect consumers. Rouhani believes the Iranian government should “communicate the necessary laws and instructions” as soon as possible so dishonorable crypto businesses are avoided. Regulation Necessary to Keep ‘Unprofessional’ […]

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Iran Adopts Bitcoin for International Trade Amid Heavy Sanctions, Falling Rial, Soaring Inflation

Iran Adopts Bitcoin for Payments Amid Escalating Sanctions, Depreciating Rial, Rising InflationThe Iranian government has adopted bitcoin for international trade as the country’s economic crisis deepens, with rising Covid-19 cases, depreciating rial, and intensifying sanctions imposed by the U.S. government. Iran’s Economic Troubles Magnified Iran is undergoing a severe economic crisis as Covid-19 cases surge in the country. The Iranian health ministry says that the number […]

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Iran’s New Crypto Law Requires Miners to Sell Bitcoin Directly to Central Bank

Iran's New Crypto Law Requires Miners to Sell Bitcoin Directly to Central BankIran has reportedly revised the country’s cryptocurrency regulation to require licensed bitcoin miners to sell their coins directly to the central bank for use to fund imports. Iran’s Revised Crypto Law The Iranian government has amended its cryptocurrency regulation to enable the country’s central bank to fund imports with bitcoin legally mined in the country, […]

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