Iran has drafted new rules to increase penalties for illegal cryptocurrency mining in the country, including additional fines and imprisonment. “Any use of subsidized electricity intended for households, industrial, agricultural, and commercial subscribers for mining cryptocurrency is prohibited.”
New Penalties for Illegal Cryptocurrency Mining in Iran
An official with Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) said the country’s administration will approve new rules to increase penalties for unauthorized cryptocurrency mining, IRNA publication reported Sunday.
Mohammad Khodadadi Bohlouli explained that under the new law:
The increased penalties include raising fines by at least three and at most five times, imprisoning the offender, and revoking the offender’s business license.
“Any use of subsidized electricity intended for households, industrial, agricultural, and commercial subscribers for mining cryptocurrency is prohibited,” Khodadadi
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