The proposed rules will see an increase in fines by up to fivefold and will also be accompanied by revocation of business licenses and threat of imprisonment as a last resort.
The Central Bank of Iran has notified commercial banks that it intends to launch the state bank-backed digital currency soon, issuing a series of regulations that pave the way for the currency.
As China leads a number of countries in legal measures against block reward mining, Georgia is turning to a different solution—a holy oath against mining.
The Iranian central bank plans to begin a pilot for its CBDC soon, an executive has revealed, saying it will resolve inconsistencies and decentralize resources.
The Central Bank of Iran and the Ministry of Trade will partner on the initiative geared towards evading international sanctions on the Iranian economy.
The Iranian national grid operator said that this is one of many measures meant to ensure that residents won’t experience blackouts once winter sets in.
The executive initially denied links to the mining operation, then claimed it was for research purposes before admitting to his illicit actions and stepping down.
Government officials had identified block reward mining as one of the biggest energy guzzlers, expressing particular concern over the illegal miners which the government is still struggling to bring down.
The Iranian National Tax Administration put forward proposals for a new legal regime for digital currency trading, following a recent announcement by President Hassan Rouhani that measures would be introduced.
The instruction came from first vice president of Iran Eshaq Jahangiri, who said all of the country’s licensed mining companies should halt production.
The new licenses are required for businesses hoping to mine digital currency in the country, a legal requirement in Iran since laws were introduced in July 2019.