Bitcoin and other crypto mining banned in Iran because its high power use makes it dirty money

Iran has banned the mining of all authorised and unauthorised cryptocurrencies including Bitcoin till September 22.

Iran has banned the energy-intensive mining of cryptocurrencies such as Bitcoin for nearly four months, President Hassan Rouhana announced on Wednesday, as the Islamic nation faces major power blackouts in many cities. The country believes that its decision to stop crypto mining will help avoid blackouts in major cities, which could disrupt lives and businesses. During the same address, President Rouhana claimed that 85% of crypto mining in Iran is illegal and unlicensed. Iranian authorities have been on the lookout for illegal miners. The oil-rich nation even had to hire spies to carry out the so-called war against unauthorised cryptocurrency mining. “The authorised mining of cryptocurrencies does not consume much electricity and needs just around 300 megawatts. However, it is the unauthorised crypto miners that consume a lot of electricity; they consume about 2,000 megawatts," President Rouhana said, according to a local publication Iran Front Page.