Iran Tightens Penalties for Illegal Mining

Iranian authorities have tightened penalties for illegal mining using subsidized electricity and repeated violations.

According to the Tehran Times, citing a spokesman for the Ministry of Energy, any use of subsidized electricity intended for households, industrial, agricultural and commercial subscribers for cryptocurrency mining is prohibited. In the case of the first violation of the law, the offenders will be forced to pay an impressive fine, but the next time they will have to go to jail.

Officials believe that the illegal mining activity creates problems with the supply of electricity, contributes to the deterioration of the power grid and can lead to damage to the devices of ordinary users.

In addition, violators may lose their mining licenses and be required to compensate for the damage caused.

The Iranian authorities lifted the ban on cryptocurrency mining in the country in May 2021.

Earlier, in Kazakhstan, after a series of inspections, 106 mining enterprises ceased their activities, 55 of which voluntarily stopped the work, dismantled and removed equipment.

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