Amidst sheepish crypto trends making traders feel pretty much under the weather over the past 2 weeks, due to Bitcoin’s obnoxious pitfalls coupled with Ethereum’s uncertain dips as of late, crypto regulations in various countries are also being updated at a fast pace.
For starters, cryptocurrency miners who use household electricity to mine coins will be heavily fined by the government, said Mostafa Rajabi, a spokesperson for Iran’s Energy Ministry.
As per a report published in Tehran Times, the Islamic Republic of Iran is looking to minimize its energy problems, adding that crypto mining is one of the two major threats to the country’s electricity supply in 2021.
The second one is the reduction of power coming from hydropower plants due to minimal rain. Furthermore, those caught by the government will also be forced to pay for any damages they might have caused to the country’s national electricity grid.
The move is the latest in Iran’s mission to control the flow of digital money and crypto-based platforms in the country for economic benefit in the long run.