Iran will lift Bitcoin mining ban in September

From the last week of September, Iran will once again allow Bitcoin and crypto miners to conduct business in the country.

According to a Report According to the Iranian Financial Tribune, the country’s power generation organization Tavanir announced the decision in early August.

As Cointelegraph previously reported, The Iranian government banned Bitcoin (Bitcoin) And the crypto mining business in May. According to reports, this decision was made to prevent miners from overburdening the grid during the hot summer.

In fact, Bitcoin miners have been blamed for the continuing power outages and power shortages in Iran.This is the severity of the problem reported by Iran Suspend the export of electricity to neighboring Afghanistan.

In April, Chinese investors Restart the country’s largest Bitcoin mining center After four months of suspension due to complaints of excessive electricity consumption.

However, it is reported that illegal encrypted mining operations are the cause of severe power supply shortages. Therefore, once the ban is lifted in September, only authorized miners can resume operations.

As early as June, as the Iranian authorities continued to promote regulated cryptocurrency mining operations, the country’s Ministry of Trade issued 30 cryptocurrency mining licenses.

Also in June, it was reported that Tehran police confiscated more than 7,000 drilling rigs for illegal mining operations in the city.

Related: Licensed Iranian crypto miners were ordered to “completely” stop production

Iran starts to legalize Bitcoin mining in 2020 More than 1,000 licenses were issued in January 2020.However, the government seems keen to localize its crypto mining industry, and the parliament is even considering passing a bill Prohibit the use of “foreign mined” cryptocurrencies Used to make payments in the country.

The government expects Bitcoin and crypto mining will become an important economic activity in the country, $1 billion in revenue forecast in MayHowever, the summer ban may make the goal impossible to achieve, at least in 2021.

Iran’s cryptocurrency acceptance policy may also significantly expand its scope, and the country’s tax agency has recently called for Legal framework for crypto trading activities.