Iran Gives Crypto Miners One Month to Register With the State

Tuesday 6 July 2020, 6:27 AM AEST - 1 month ago

https://commons.wikimedia.org/wiki/File:VP_Eshaq_Jahangiri_meeting_with_Georgian_PM_Giorgi_Kvirikashvili_04.jpgIranian First Vice President Eshaq Jahangiri announced the new mining requirement. (Mohammad Hassanzadeh/Tasnim/Wikimedia Commons)

Iranian Vice President Eshaq Jahangiri announced on Monday the countrys cryptocurrency miners will soon have to register their rigs with the government.

  • Under the directive, miners will have to disclose their identities, the size of their mining farms and their mining equipment type with the Ministry of Industry, Mines and Trade.
  • Miners will have a month to register their equipment, according to the Ministry, which will then publish a list of licensed mining centers.
  • Jahangiris announcement is the latest in Irans cat-and-mouse game with the countrys illegal crypto miners, who smuggle in rigs and are sometimes caught.
  • Officials said Monday they want to eliminate the confusion of cryptocurrency activists with the new directive. That confusion has largely been of Irans own making: conflicting mining policies, tariffs and laws have left miners in a gray zone for years.
  • The directive will ultimately give Iran tighter control over its on-the-books miners, though it remains to be seen how much of the underground community will heed the directive. Iranian miners contributed nearly 4% of bitcoins hashrate in April.
  • The directive did not specify the punishment for failing to register. However, illegal bitcoin miners have faced jail time and ste ...

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