Share this article
Iran's Ministry of Industry Issues 30 Licenses to Crypto Mining Farms
Tehran's province, which houses the country's capital and center of political power, has received only one license.
Updated Feb 9, 2023, 1:21 p.m. Published Jun 28, 2021, 1:46 a.m.
Make us preferred on Google
In spite of a blanket ban resulting from power shortages caused by a lack of rain, Iran's Ministry of Industry, Mine and Trade has exempted a number of crypto mining farms across the country.
According to a report by the Financial Tribune on Wednesday, the ministry has granted permission for 30 crypto mining farms to operate after issuing licenses.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Six licenses have been doled out in the Semnan province while the province of Alborz, which sits just outside the country's capital, received four. Also receiving four licenses were the provinces of Mazandaran, East Azarbaijan and Zanjan.
Tehran province, which houses the country's capital and center of political power, has received only one license for a mining operation there.
See also: Iranian President Wants to Regulate Crypto ‘as Soon as Possible’
In May, the country's president, Hassan Rouhani, said crypto mining operations had to cease until Sept. 22 resulting from the load they place on the national power grid because of an exceptionally hot summer.
Also in May, the Central Bank of Iran moved to ban the trading of certain crypto considered mined outside the country attempting to stymie capital flight outside of its borders.
Plus pour vous
'We do not do illegal things': Inside a U.S.-sanctioned stablecoin issuer's race to build a crypto giant
Oleg Ogienko, the public face of A7A5, pitched the ruble-pegged stablecoin as a fast-growing trade rail built to move money across borders despite sanctions pressure.
Ce qu'il:
- Oleg Ogienko, the public face of ruble-denominated stablecoin issuer A7A5, insists the firm complies fully with Kyrgyz regulations and international anti-money-laundering standards despite extensive U.S. sanctions on its affiliates.
- A7A5, whose issuing entities and reserve bank are sanctioned by the U.S. Treasury, has grown faster than USDT and USDC and aims to handle more than 20 percent of Russia’s trade settlements, primarily serving businesses in Asia, Africa and South America trading with Russian partners.
- Ogienko said that he and his team were developing partnerships with blockchain platforms and exchanges during Consensus in Hong Kong, though declined to name specifics.
Top Stories
