Penalties For Illegal Crypto Mining Are Getting Heavier In Iran

Penalties for illegal crypto mining are getting heavier in Iran. Penalties in Iran will include imprisonment.

In Iran, the government is making new regulations to increase penalties for illegal cryptocurrency mining. According to Iran's official news agency IRNA, the fine will be increased by at least three to a maximum of five times in case of violation of the law in cryptocurrency mining, and the regulation will also be amended to include new provisions such as imprisonment and cancellation of the operating license in case of repeated violation. Iran Electricity Generation and Distribution (TAVANIR) official Mohammad Khodadadi Bohlouli said, “The use of cheap electricity for agriculture, industry and commercial areas as well as household electricity is prohibited for cryptocurrency mining. The use of cheap electricity provided for these areas in cryptocurrency mining reduces the quality of the electricity supply of the national grid and therefore damages people's electrical devices such as televisions, refrigerators, air conditioners, etc.” In May 2021, an official from Iran's Ministry of Energy said that those who mine cryptocurrencies with subsidized electricity would face hefty fines. He stated that in addition to the fines, these miners would be asked to compensate for the damage done to the electricity branch.