Iran Announced A New Development In The Crypto Mining Ban

Iran announced a new development in the crypto mining ban. Iran banned mining cryptocurrency until September.

Iranian President Hassan Rouhani stated in a statement on state television that cryptocurrency mining will be banned until September 22. According to the data of Cambridge Alternative Finance Center, Iran is the sixth country in the world with the most cryptocurrency mining and its share in global mining is 3.82 percent. China, which performs 65 percent of global cryptocurrency mining, also announced last week that it banned cryptocurrency mining. The State Council committee, headed by Chinese Vice President Liu He, announced on Friday that cryptocurrency mining was banned to reduce financial risks. Accordingly, the Council targeted cryptocurrency mining for the first time. Cryptocurrency Exchange Huobi announced on Monday that it is ceasing mining and trading for its customers in China, and announced that it will focus on its operations in other countries. While BTC.TOP stopped its operations in China citing regulatory risks, crypto mining firm Hashcow announced that it would not buy new equipment for Bitcoin mining.