Iran

Bitcoin Mining Machines

1000 Bitcoin Mining Machines Seized in Iran

Around 1000 bitcoin mining machines have been seized by the Iranian government due to power issues. These machines were used by two crypto mining firms in some abandoned factory premises in the Yazd province. The Energy Ministry of Iran says that due to the heavy consumption of electricity in mining, the power grids are becoming unstable.

Iran Plans to Launch its Own Cryptocurrency

Iran Plans to Launch its Own Cryptocurrency

Iran has finally unveiled plans to launch its own cryptocurrency during the annual two-day Electronic Banking and Payment Systems conference, scheduled to be held on 29th January 2019. The country has taken this step to circumvent the sanctions imposed by the US. The country has also announced its plans to launch a nationalized version of SWIFT Network in the near future.