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“This is the first incident of this magnitude,” the report said, quoting Gallant. “We have effectively cut off the flow of terror funds via this channel.” He also alleged that Iran's military and Hezbollah relied on virtual currency to finance their militant activities, according to the report. Source
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In 2021, Iranian authorities banned mining and seized related equipment to deal with power shortages. Last year, the power utility, Tavanir, also clamped down on illegal crypto mining farms as power demand climbed during the summer, according to the reports. The utility has closed 7,200 illegal crypto mining centers and
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Nima Yazdanmehr, who said he is a friend of Sadr, told CoinDesk the arrest took place on the streets of Tehran on Sep. 19 and that Sadr has not been released. The arrest came amid widespread anti-government protests over the state killing Mahsa Amini, a 22-year-old activist, though a reason
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Iranian authorities have seized nearly 10,000 illegal cryptocurrency mining devices since March. According to reports, many of the seized crypto mining rigs were operating in public locations that receive free or heavily-subsidized electricity, such as schools and mosques. Iran Confiscates Nearly 10K Crypto Mining Devices Kambiz Nazerian, head of Tehran Electricity Distribution
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Iran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” a
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Global cryptocurrency exchange Binance is under the spotlight as a report claims it continued serving Iranian clients despite a company ban and economic sanctions against the country.According to an investigative report from Reuters, individuals inside the country continued to trade on Binance after the company itself had shifted Iran onto
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Iran’s state-owned power distribution company, Tavanir, has threatened harsher measures to discourage unauthorized crypto mining. These include much higher fines for those minting digital currencies with subsidized electricity and penalties for government officials involved in mining. Tavanir Raises Fines for Illegal Cryptocurrency Mining The Iran Power Generation, Transmission and Distribution Company (Tavanir)
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According to local news outlet Arz Digital, the day prior, Rajabi Mashhadi, a spokesperson for Iran's Ministry of Energy, said that the entity would be cutting the power supply to all of the country's licensed crypto mining firms by the beginning of July.Citing an anticipated electricity deficit from the peak-summer
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"Chair Powell, obviously you do not administer sanctions, but you are an expert on the international financial system. Are other countries currently using cryptocurrencies to evade sanctions? I'm thinking here of North Korea, Iran, Venezuela," she said. Source
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ViraMiner is an Iranian company that sets up Bitcoin mining farms and maintains them. It has two offices in western Tehran, located in separate adjacent buildings.When Magazine visits, its old office is busy on a Monday afternoon. This place is now officially dedicated to its repairing services alone.Mining devices are
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