Iranian authorities have increased the penalties for illegal mining of cryptocurrencies using subsidized electricity and introduced prison sentences for repeat offenders. Tehran Times has reported with reference to a representative of the Ministry of Energy. He has said:
“Any use of subsidized electricity intended for households, industrial, agricultural and commercial subscribers for mining cryptocurrencies are prohibited.”
According to officials, the activity of miners creates problems with the supply of electricity, contributes to the deterioration of the electrical network and can lead to damage to the devices of ordinary users.
The new rules also suggest that violators may have their mining licenses revoked digital currencies. In addition, such entities will be obliged to compensate for the damage they caused to the power grid.
Iran periodically imposes restrictions on cryptocurrency mining. In May 2021, President Hassan Rouhani announced a temporary ban on the mining of cryptocurrencies due to a shortage of electricity. Licensed enterprises were allowed to resume work in the autumn.
