Iranian Ministry allegedly dismisses illegal crypto mining claims by Tavanir
In response, Iran’s Ministry of Industry, Mine and Trade called into question Tavanir’s assertions that illegal mining activities consume 2,000 megawatts of electricity every year. Iran’s Ministry of Industry, Mine, and Trade has reportedly refuted accusations made by Iran’s largest power firm Tavanir, which claimed that unlicensed bitcoin miners were to blame for the country’s […]
Iran sets to lift Bitcoin mining ban come September
By the end of September, Iran will once again allow Bitcoin and crypto miners to operate in the nation. Authorized Bitcoin miners will be able to resume mining operations. According to the Financial Tribune of Iran, Tavanir, the country’s electricity-producing organization , announced the decision in August. Iran’s government outlawed Bitcoin (BTC) and crypto mining […]
Iranian National Tax Administration sets to legalize crypto exchanges
A new proposal by the Iranian National Tax Administration (INTA), stated that the country’s tax authorities is trying to establish a legislative framework for the proper taxation of crypto trading platforms operating in the country. INTA allegedly underlined the importance of establishing digital asset exchanges in a recommendation carried by local media two months after […]
Electricity exportation suspended due to crypto mining in Iran
Iran’s struggle with rising electricity demand reached unprecedented heights, prompting the country to suspend electricity exports. On state television, Abuzer Salihi, the general manager of Iran’s power distribution business Tevanir, claimed that the company had decreased electricity exports to zero “so that there is no problem in the country’s electricity supply.” He claimed that in […]
Iranian Parliament Commission on Economy: Makes move to restrict the use of cryptocurrencies within Iran
As authorities seemed to be aiming to build a legal framework for individuals to exclusively utilize crypto from state-licensed mining operations for payments, this approach might outlaw all foreign-mined cryptocurrencies. The Iranian Parliament Commission on Economy has proposed a new measure that intends to restrict the usage of cryptocurrencies in the state while also providing […]