Iran to raise sanctions for unlawful altcoins mining using s…

(MENAFN) According to an official with Iran’s Power Generation, Distribution, and Transmission Company (known as Tavanir), the country’s administration will pass new rules to raise the sanctions for unlawful altcoins mining that use subsidized energy.

IRNA stated based on Mohammad Khodadadi Bohlouli, according to the new rules, the raise in sanctions involves increasing penalties by no less of three and not higher than five times, putting the lawbreaker in prison, as well as the cancelation of their business permit if acts of breaking the law were repeated.

Khodadadi stated, “any use of subsidized electricity, intended for households, industrial, agricultural and commercial subscribers, for mining cryptocurrency is prohibited.”

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