Iran temporarily bans cryptocurrency mining after blackouts
Iran temporarily bans cryptocurrency mining after blackouts
Business 2 min read
27 May, 2021
President Hassan Rouhani has announced a four month ban on cryptocurrency mining, which has been blamed for a string of power cuts in Iran. Cryptocurrency mining has been blamed for power cuts across Iran [Getty]
Iran s President Hassan Rouhani on Wednesday announced a four-month ban on all cryptocurrency mining, a day after his energy minister apologised for unplanned power cuts in major cities. Cryptocurrency activities and mining cryptocurrencies must be stopped until September 22, Rouhani said in televised remarks.
Power cuts in the peak summer months are not uncommon in Iran, but Tehran and several other major cities were hit by unplanned blackouts late last week, sparking complaints from consumers and businesses.
Thursday, 27 May, 2021 - 05:30
A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS/Dado Ruvic/File Photo/File Photo Asharq Al-Awsat
Iran s President Hassan Rouhani on Wednesday announced a four-month ban on all cryptocurrency mining, a day after his energy minister apologized for unplanned power cuts in major cities.
Iranian officials have regularly blamed unlicensed cryptocurrency miners for using vast amounts of electricity. Cryptocurrency activities and mining cryptocurrencies must be stopped until September 22, Rouhani said in televised remarks, AFP reported.
Power cuts in the peak summer months are not uncommon in Iran, but Tehran and several other major cities were hit by unplanned blackouts late last week, sparking complaints from consumers and businesses.
Iran's President Hassan Rouhani on Wednesday announced a four-month ban on all cryptocurrency mining, a day after his energy minister apologised for unplanned power cuts in major cities. Iranian officials have regularly blamed unlicensed cryptocurrency miners for using vast amounts of electricity. "Cryptocurrency activities and mining cryptocurrencies must be stopped" until September 22, Rouhani said in televised remarks. Power cuts in the peak.
Iranian President Hassan Rohani has announced a four-month ban on all cryptocurrency mining in response to unplanned power cuts that have hit major Iranian cities.
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