Mining

Mining Ban Sparks Negative Reactions From Iran’s Crypto Community

Coins Legend June 27, 2022 0

The recently reintroduced seasonal ban on cryptocurrency mining has provoked backlash from the local crypto community. This week, the country’s power distribution company ordered miners to suspend activities citing electricity shortages during the hot summer months. Restrictions on Crypto

Finance

Iran Aims to Roll Out Pilot Version of Crypto Rial Within 2 Months

Coins Legend June 26, 2022 0

The government in Tehran is taking steps in preparation of the launch of Iran’s new digital currency, referred to as the crypto rial. The monetary authority of the Islamic Republic hopes to initiate the pilot phase of the project within the next two months. Crypto Rial to Be Different From Cryptocurrencies, Central Bank Says Iranian […]

Mining

Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

Coins Legend June 21, 2022 0

Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced. Legal Crypto Miners in Iran to Halt Operations Again Due to Electricity Shortages Authorized crypto mining […]

Finance

Iran Will Not Allow Crypto Payments, Prepares to Pilot Digital Rial

Coins Legend April 12, 2022 0

Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,” the pilot phase of which should start in the near […]