Iran banned Bitcoin mining due to network problems

Requiring Bitcoin miners to obtain official permission in the country, Iran has reportedly now banned the application. According to Iran Front Page, the Iranian government has announced a ban on bitcoin mining in the country until the end of September. According to the report, the move announced by the country's president, Hassan Rouhani, was necessary due to the huge burden placed by the country's bitcoin mining operations on the national electricity grid. "Licensed cryptocurrency mining doesn't consume much electricity and is only around 300 megawatts," says Rohani, according to the report. "However, these are unauthorized crypto miners consuming a lot of electricity; they are consuming around 2,000 megawatts." Iran requires bitcoin miners to be authorized by the government to operate, which places restrictions on how they can use the resulting BTC. According to the report, Rouhani banned all bitcoin mining activities, even if authorized, due to the power they both imposed sanctions on. . and using unapproved minors. The report did not specify how Iran will prevent Bitcoin miners already operating in an unauthorized way from completing the process during this latest ban. In April, the Central Bank of Iran said licensed banks and exchange offices across the country could use Bitcoin mined by officially sanctioned miners to pay for imports. Apparently, the decision was taken to allow the country to operate outside of traditional financial controls, as it faced international sanctions. This followed a statement by the country's central bank in October 2020 that bitcoin and other cryptocurrencies could be officially mined under state control, using subsidized energy and then provided to the government for funding. imports. "I don't think the central bank will touch bitcoin in any way," Ziya Sadr, a bitcoiner from Tehran, told Bitcoin Magazine last year. "The system is only

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