Iranian authorities prepare to lift mining ban in September

by in Cryptocurrency News

Iran

Back in May, the Iranian government announced a mining ban until September 2021. The decision was made due to the threat of an energy crisis in the Islamic Republic.

Due to the high activity of miners, the load on the power grids has increased dramatically, which has created threats to the power supply of enterprises and the population.

According to officials, more than 80% of miners work in Iran without a license. This situation could not but arouse fears on the part of the government.

At the end of September, the citizens will again have the right to mine cryptocurrency.

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The moratorium will be lifted in the last week of next month. Crypto mining in Iran was legalized last year. At the same time, the authorities issued more than a thousand licenses to citizens and companies wishing to mine digital currencies without fear of persecution by law enforcement officers.

About 30 more licenses were issued in June this year. In parallel, the Islamic Republic is seeking to deliver a crushing blow to the underground miners.

At the beginning of the summer, law enforcement agencies found and seized more than seven thousand pieces of equipment for crypto mining in Tehran. The same operations are regularly carried out in other provinces of Iran.