Iran seems to be attempting to ban foreign-mined cryptocurrencies for payments
A difficult-to-enforce ban may actually be part of a larger sanctions-avoidance strategy. Go to Source Powered by WPeMatico
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Iran’s central bank says officially mined crypto can be used to pay for imports
A developing strategy to mitigate the crippling effect of economic sanctions could see cryptocurrencies being used by Iranian firms to pay for imports such as raw materials and electronics. Go to Source Powered by WPeMatico
Iran Authorizes Banks and Currency Exchangers to Use Cryptocurrencies to Pay for Imports
The Central Bank of Iran has authorized banks and currency exchangers to use cryptocurrencies mined by licensed crypto miners in the country to pay for imports. Meanwhile, a bill is being drafted to provide regulatory clarity regarding crypto-related activities. Using Cryptocurrencies to Pay for Imports The Central Bank of Iran (CBI) has announced that banks … Read more
Chinese investors reboot Iranian Bitcoin mining facility
A Chinese-Iranian Bitcoin mining facility is set to resume operations after being forced to shut down earlier in the year. Go to Source Powered by WPeMatico
1.2 Billion People Live Under Double-Digit Inflation, ‘Many Have Found Escape in Bitcoin’ Says HRF’s Alex Gladstein
While central banks are focusing on creating more stimulus and economists expect inflation in the U.S. to rise, a number of other countries are suffering from considerable inflation right now. On Monday, the chief strategy officer for the Human Rights Foundation, Alex Gladstein, explained that 1.2 billion global citizens are living under inflation rates as … Read more
Another crypto firm hit with fines for violating U.S. sanctions
BitPay apparently screened merchants but not customers. Go to Source Powered by WPeMatico
Law Decoded: All vs. One and One vs. All, Jan. 22-29
In a week that saw meme-driven investors rail against Robinhood in what coverage painted as a David and Goliath story, considerations of who exactly policy should defend flared up. Go to Source Powered by WPeMatico
Iranian government reportedly moving to block Signal messaging app
Rumors are circulating in Iran that authorities already have access to messages on WhatsApp, one of the few unblocked platforms in the country. Go to Source Powered by WPeMatico
Why Pakistan and the Middle East can bet on crypto mining
By embracing crypto mining activities in the region, Pakistan and Iran may give other nations in the Middle East an example to follow. Go to Source Powered by WPeMatico
Iran Seizes 45,000 Bitcoin Miners for Illegally Using Subsidized Government Electricity: Report
Police in Iran have reportedly seized 45,000 bitcoin mining rigs for illegally using subsidized electricity from the state-owned power utility Tavanir, the local Tasmin News Agency reported this week. According to Mohammad Hassan Motavalizadeh, head of Tavanir, the efficient application-specific integrated circuit (ASIC) bitcoin miners had been consuming 95 megawatts (MW) per hour of electricity … Read more