The government has established an embargo for cryptocurrency in the country to reduce the load on the electrical network in the summer months.
On May 26, President Hassan Rukhani reported on this decision on television. A full ban on mining will be valid until September. Since in the summer months, energy consumption increases significantly, the authorities fear that the production of cryptocurrency in periods of peak demand can lead to power supply interruptions due to the lack of electricity and network overload.
Such radical measures are also due to the fact that most Iranian miners (up to 85%) work without a license to pay for electricity at lower rates. Since last year, the government leads
In April, one large Iran Bitcoin-farm has already caused the massive disclosures of electricity, since it consumed most of the energy of the region. In order to avoid repetition such a situation, it was decided to stop it for 4 months.
According to experts, the nationalization of mining helps Iran at around economic sanctions and can bring the country’s execution annually
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