Bitcoin Mining Ban Ineffective, The Government Of Iran Takes Bold Steps


The temporary ban on bitcoin mining by the Iranian government is no longer in effect.

Notably, the Ban was imposed since May by the government. However, as Iran International reports, the bitcoin mining ban is no longer active.

Furthermore, the government reactivates the the four-month moratorium on the energy-guzzling process. This comes from information by the Ex-President Hassan Rouhani announcements..

Additionally, Tehran and other Iranian city’s blackout is part of the influence leading to the bitcoin mining ban.

Notably, Bitcoin mining under license can be able to operate in the country without facing any restrictions.

Also, an estimate of 85% of all cryptocurrency mining operations functions illegally in the country.

News linking the discovery of dozens of ASICs in the building of Iran’s largest stock exchange,
this resulted to the swift resignation of CEO Ali Sahraee.

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Senator Maggie Hassan and Joni Ernst Introduces Bills For Monitoring Foreign Crypto Mining

Senator Maggie Hassan (D-NH) and Joni Ernst (R-IA) teams up together to introduce the bill on Sept. 27. Notably, This new bill will monitor the foreign crypto miners.

Also, The bill requires the Secretary of the Treasury to send in reports on digital currencies. Also, on the global competitiveness with the Congress.

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