Ethereum 

Iran Crypto Devs Launch Platform for Flood Victims in Light of US Sanctions

Volunteer cryptocurrency developers in Iran have created a blockchain platform called IranRescueBit, which allows people to make charitable cryptocurrency donations to aid regions in the country in recovering from destructive flooding. Al Jazeera shared the news in a report on Aug. 14. According to the report, the platform supports donations in Bitcoin (BTC), Ether (ETH) and Litecoin (LTC). The government is reportedly not involved in the project. IranRescueBit reportedly allows donors to dodge American sanctions that have insofar prohibited international donations to the Iranian Red Crescent Society, which is a…

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Ethereum 

Iran Recognizes Bitcoin and Crypto as an Official Industry, Says MP

The Iranian government’s Economic Commission has approved a mechanism of cryptocurrency mining in the country, according to an announcement by the Iran Chamber of Commerce, Industries, Mines and Agriculture on July 22. Iran’s Economic Commission approves crypto mining ‘mechanism’ Governor of the Central Bank of Iran (CBI), Abdolnaser Hemmati said that “a mechanism to mine digital coins was approved by the government’s economic commission and will later be put to discussion at a Cabinet meeting.” Initially, Iranian authorities announced that they are planning to authorize Bitcoin and cryptocurrency mining earlier…

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Blockchain 

Iran Finalizes Electricity Pricing Scheme for Cryptocurrency Miners

The Iranian Economic Commission has reportedly finalized a tariff scheme for cryptocurrency miners, according to a July 21 report from Iranian economic daily Financial Tribune.  Per the report, Energy Minister Homayoon Ha’eri announced that, while the tariff scheme has been finalized, it is awaiting approval from the Cabinet of Iran — a governmental body consisting of various ministers and other officials chosen by the president.  While Ha’eri did not elaborate on the exact price scheme, he stated that the price is dependent on market factors such as fuel prices in…

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Ethereum 

Iran Has Not Issued Any Licenses for Importing Crypto Mining Equipment

Iran’s customs administration has not issued licenses for importing digital currency mining equipment into the country due to the absence of approval from the government. Deputy President of the Islamic Republic of Iran Customs Administration (IRICA) Jamal Arounaghi said that the agency has not issued any licenses for importing cryptocurrency mining devices into the country, multilingual Tehran-based news outlet Mehr News Agency reported on July 21. While cryptocurrency mining equipment is banned in the country, IRICA has determined a tariff rate for its import, defining it as related to the…

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Blockchain 

Sanctions-Hit Iran A ‘Heaven’ for Bitcoin Mining, Says Gov’t Official

Iranian authorities are wrestling with the rising number of citizens turning to Bitcoin mining and use as a means of coping with a sanctions-crippled economy. Iran’s minister for information and communications technology, Mohammad Javad Azari Jahromi, told the Associated Press (AP) that the country has become “a heaven for miners,” according to a July 18 report. He noted: “The business of ‘mining’ is not forbidden in law but the government and the Central Bank have ordered the Customs Bureau to ban the import of [mining machines] until new regulations are…

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Blockchain 

US Sanctions on Iran Crypto Mining — Inevitable or Impossible?

If there’s one thing the United States has had a history of, it’s imposing sanctions on its enemies. Venezuela, Cuba, North Korea, Russia and numerous other nations have been subject to restrictions and penalties over the years, with the U.S. harnessing its economic muscle in order to punish pretty much any country that doesn’t play by the international rulebook. One of the most notable of these countries is Iran — which, since the Iran hostage crisis of 1979, has been on the receiving end of a long series of prohibitions, blocks and…

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Blockchain 

Iran Plans to Allow Crypto Mining, Central Bank of Iran Governor Says

Iranian authorities are planning to authorize cryptocurrency mining, as the governor of the Central Bank of Iran (CBI) declared, news agency PressTV reported on July 10. CBI governor Abdol Hemmati reportedly claimed that the Iranian government has approved some parts of an executive law that would authorize mining of cryptocurrencies such as Bitcoin (BTC) in Iran. Hemmati’s claim follows a lengthy back-and-forth on the legal status of cryptocurrencies in Iran. As Hemmati explained, the planned law will require crypto mining in Iran to abide with the price of electricity for…

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Ethereum 

Trading Bitcoin Is Illegal in Iran, Central Bank Official Warns

Buying and selling cryptocurrencies like bitcoin (BTC) is illegal in Iran, a senior government official declared, according to a report by local news agency Tasnim News on July 8. Nasser Hakimi, deputy governor for new technologies at the Central Bank of Iran (CBI), said that bitcoin trading is not legal in the country, citing a related prohibition by a local anti-money laundering (AML) authority, the Supreme Council of Combating and Preventing Money laundering and Financing of Terrorism Crimes. In an interview with Tasnim News, Hakimi warned the public against legal…

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Ethereum 

Iran Bitcoin Miners Set Up Shop in Mosques Amid Gov’t Crackdown

Iranian bitcoin (BTC) miners are moving into mosques as the government launches an energy crackdown, social media users revealed on June 25. Iran, which offers free energy to mosques, now has around 100 miners occupying places of worship, generating much-needed income of around $260,000 a year.  “This money goes a long way in Iran’s choked sanctioned economy,” Oxford University researcher Mahsa Alimardani explained on Twitter.  Despite its increasingly troubled economic situation, Iran remains uncoordinated when it comes to cryptocurrency policy.  Last year, the central bank officially forbade lenders from servicing…

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Blockchain 

Iran Developing National Blockchain Platform on IBM Hyperledger Fabric

The Central Bank of Iran (CBI), via its Informatics and Services Corporation (ISC) and in conjunction with Areatak — a Tehran-based blockchain solutions provider — is developing a national blockchain project for its banking and financial sector. Called the Borna platform, Iran hopes to use the project to revamp its banking ecosystem, creating a digital financial economy that will replace the current legacy system. There are also future plans to open up the platform to local private establishments, creating a unitary monetary and banking system for the country. Given the…

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