Iran

Iran has given Bitcoin mixed treatment across time – especially regarding mining. The country has temporarily reinstated its Bitcoin mining ban to prevent possible electricity blackouts in another policy flip. While significant network hash power emerges from the country, the ban won’t compromise its security in any substantial way. Another Ban From Iran The Iranian Ministry of Energy authorized local miners to suspend operations this week. Also, the ban is a safety measure not to overwhelm the grid. After all,…

Nasser Hakimi, the former deputy governor of the Central Bank of Iran, has warned Iranians about investing in Bitcoin. This comes on the back of the growing popularity of cryptocurrencies in Iran.   A major investment risk  Hakimi revealed his opinion on cryptocurrencies in an interview with local news outlet Tasnim News Agency. According to him, bitcoin is a volatile asset that poses significant financial risks to investors.  He further added that investors should exercise caution in purchasing bitcoin and desist from…

According to a report by official IRNA (Islamic Republic News Agency), the Iranian cabinet has amended the legislation to accept Bitcoin to fund its import. As per the Ministry of Energy report, the miners in the country are directed to transfer the Bitcoins to the Central Bank of Iran. The newly amended legislation will allow the country's central bank to channel these funds for imports. Surviving under the sanctions This comes amid the sanctions imposed on the Asian country by…

One of the concerns of crypto critics is their ability to allow people to do what they like against government regulations. A General in Iran (Saeed Muhammad) has suggested the utilization of crypto to bypass U.S. and UN sanctions. Saeed Muhammad is the commander of the Islamic Revolutionary Guard Corps that is under the Armed Forces of Iran. The country has been encountering sanctions from the United States over a long period, thereby disallowing her from participating in international trade.…