9,404 Crypto Mining Devices Seized by Iranian Authorities Since March – Mining Bitcoin News

Since March, Iranian authorities have confiscated nearly 10,000 illegal cryptocurrency mining machines. Reports indicate that many of these seized cryptocurrency mining devices were located in places where electricity is freed or highly subsidised, including schools and mosques.

Iran confiscates Nearly 10K Crypto Mining Devices

Kambiz Nazerian from Tehran Electricity Distribution Company stated Monday that Iranian authorities had discovered and confiscated 9,404 illegal cryptocurrency mining machines in Tehran. This was since March 21st, local media reported.

He said that inspectors from different areas of Tehran discovered the equipment.

In recent years, Iranian authorities announced numerous times the detection of illegal cryptocurrency mining equipment in several parts of Iran. These unauthorized mining operations often took place in places such as mosques and schools that received free or highly-subsidized electricity.

Alireza Peymanpak, vice minister of Iran’s Ministry of Industry, Mine and Trade and president of the country’s Trade Promotion Organization (TPO), revealed that “the first official import order was successfully placed with cryptocurrency worth 10 million dollars.” He added: “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries.”

Last week, Alireza Managhebi, the chairman of Iran’s Importers Group and Representatives of Foreign Companies (Imports Association), stressed that a stable regulatory framework for cryptocurrencies should be established for cryptocurrencies in order for them to be successfully used as a means of payment for imports.

Ali Salehabadi is the Iranian central bank governor. He recently declared that cryptocurrency purchases, sales, and investments are illegal. Iran’s Ministry of Intelligence also issued a statement in May declaring that it has blocked 9,219 bank accounts belonging to 545 individuals due to suspicious foreign currency and cryptocurrency transactions.

Do you have any thoughts about Iranian authorities seizing 9404 illegal mining equipment? Please comment below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.

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