Iran has drafted new rules to increase penalties for illegal cryptocurrency mining in the country, including additional fines and imprisonment. “Any use of subsidized electricity intended for households, industrial, agricultural, and commercial subscribers for mining cryptocurrency is prohibited.” New Penalties for Illegal Cryptocurrency Mining in Iran An official with Iran’s Power Generation, Distribution, and Transmission […]
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The 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 […]
The post Iran Adopts Bitcoin for International Trade Amid Heavy Sanctions, Falling Rial, Soaring Inflation appeared first on Bitcoin News.
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It appears that the Iranian people are losing trust in the rial as it continues to depreciate in value. In response, the government of Iran is trying to prevent them from getting their hands on foreign currency, providing another example of the need for bitcoin. We should expect to see a growth in local bitcoin […]
The post Government of Iran Bans Foreign Fiat Currency Exchanges appeared first on Bitcoin News.
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