Iran to Increase Penalties for Illegal Crypto Mining

On April 16, the Iranian government will pass new regulations that increase penalties for illegal cryptocurrency mining using subsidized electricity. Under the new rules, the increased penalties include increasing fines by at least three times to a maximum of five times, jailing offenders and revoking their business licenses in the case of repeated violations. Mohammad Khodadadi Bohlouli, an official at the Ministry of Power Generation, said that any use of subsidized electricity for domestic, industrial, agricultural and commercial users to mine cryptocurrencies is prohibited. Misuse of subsidized electricity to mine cryptocurrencies reduces electricity supply to the national grid

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