IT House reported on June 21 that transactions through encrypted digital currencies are restricted in Iran. According to Bloomberg, 118 crypto miners will find the power supply disrupted. The blackout, which appears to be a precautionary measure against a sharp increase in electricity consumption in Iran, will begin on June 22.
Mostafa Rajabi Mashadi, spokesman for the Iranian power industry, said:Electricity demand will exceed 63,000 megawatts this week.Electricity consumption peaked last August at 67,000 megawatts. With Iran already under U.S. trade sanctions, cryptocurrencies could be a way to circumvent. But the implementation of the latest policy shows that luxury electricity is a more pressing issue today.
Iran started recognizing cryptocurrencies in 2019. Iranian cryptocurrency miners must obtain permission to trade and send the collected bitcoins to the National Bank of Iran. But that changed later when the government twice announced the closure of the crypto center, as it found an increase in electricity consumption.
Cryptocurrencies have also come under scrutiny from governments in other countries, including restrictions on electricity use, huge increases in electricity bills, and more.
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