In Brief:
- Iran’s government banned Bitcoin (BTC) and crypto mining operations back in May.
- The Iranian government would enable authorized cryptocurrency miners to resume their endeavors from September 22nd.
Tavanir, Iran’s Power Generation, Distribution, and Transmission Company, said that the ban on crypto mining will be lifted on Sept 22, According to a Financial Tribune report. Earlier, the Ministry of Industries, Mining and Trade, had imposed a ban on crypto mining due to power-consumption-related issues.Â
After 22nd September, the country’s authorities would legally allow digital asset miners to restart their operations. Mostafa Rajabi Mashhadi informed that the months with high power consumption are almost over. Hence, cooler temperatures in autumn would make legal virtual asset mining possible again.
Back in May, the Iranian Govt. had banned temporarily banned crypto-mining for about four months. President Hassan Rouhani took the step as the country was facing major power blackouts in many cities. They blamed cryptocurrency mining for it and implemented a total ban on Crypto-mining until September 22nd.
During the last few months, the Iranian govt. took intense measures to track down illegal miners and seized their operations. Tavanir mentioned that it confiscated nearly 212,000 units of illegal mining equipment in the last 12 months. The machinery reportedly caused losses of around $4 billion to the energy network.
