Iran legalizes Bitcoin mining but only during off peak hours

posted 12 months ago
Iran is officially recognizing cryptocurrency mining as an industry within its borders. The Iranian chamber of commerce approved crypto mining, with the government now looking for ways to regulate this activity within its existing legal structure. “A mechanism to mine digital coins was approved by the government’s economic commission and will later be put to discussion at a cabinet meeting” the Central Bank of Iran governor Abdolnaser Hemmati said.

Also, Iran reportedly banned Bitcoin miners from using power during peak hours. “It has also been decided that the government work out a mechanism for peak hours of electricity consumption, so that people will not face problems. So, relevant institutions will provide producers of digital currency with three-phased timers which switch off during peak hours of power consumption” said Elias Hazrati, senior lawmaker and chairman.
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