Iran

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Cheap Power Is Creating a Bitcoin Mining Boom in Argentina

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Argentina, the ailing South American country, is experiencing a cryptocurrency mining resurgence due to artificially low power rates maintained by subsidies from the national government. This fact, alongside exchange controls and the possibility of selling obtained assets at a higher exchange rate than the official one, is enticing more and more individuals to enter the … Read more

Cryptocurrency Mining Banned in Iran as Blackouts and Power Shortages Intensify

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Iranian President Hassan Rouhani has announced that cryptocurrency mining is banned in Iran, effective immediately. The ban, which will last until Sept. 22, is imposed as many cities in the country are facing major power blackouts. Iran has banned cryptocurrency mining effective immediately, President Hassan Rouhani said on Wednesday in a televised speech at a … Read more

Iran Is Using Bitcoin Mining to Circumvent Sanctions, According to Elliptic

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Iran is using Bitcoin mining to circumvent and lessen the effect of the economic sanctions that the U.S. and other countries have applied to the country since 2006, according to a new study by Elliptic, a blockchain analytics and financial crime compliance firm. The country is indirectly using bitcoin mining to export part of its … Read more

Iran to Shut Down Licensed Crypto Miners in Peak Hours of Power Consumption

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Citing a need to maintain a stable electricity supply for other users, Iran will be pulling the plug on cryptocurrency mining farms whenever power consumption peaks. The measure intended to deal with shortages will target licensed facilities despite the government admitting that illegal crypto miners burn much more energy. Licensed Crypto Miners Use 300 MW, … Read more

Restrictions on Crypto Trading to Deprive Nation of Opportunities, Iranian Fintechs Warn

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Startups have spoken out against government attempts to curb the operations of crypto exchanges in Iran. Cryptocurrency trading is not illegal, Iranian fintechs insist, calling on lawmakers and regulators to develop rules that would allow the sanctioned country to continue to take advantage of decentralized money transfers. Iranian Fintechs Insist There Is No Ban on … Read more