Iran Seizes 7,000 Bitcoin Mining Machines
7,000 cryptocurrency mining machines has been seized by Iranian police operating illegally in the country. The machines were found in an abandoned factory west of the capital.
The state news agency IRNA reported Tuesday, 7,000 bitcoin mining machines have been seized by Iranian authorities noting that this is Iran’s largest seizure of cryptocurrency mining machines to date. Tehran police chief General Hossein Rahimi said that the machines were seized at an illegal mining farm in an abandoned factory west of the capital.
Cryptocurrency mining is an authorized activity in Iran and miners are required to obtain a license from the country’s Ministry of Industry, Mine, and Trade. However, many miners are operating in Iran without obtaining a license.
Iran has mandated that bitcoin miners must sell their BTC directly to the central bank, which will then be used to fund imports. Commercial banks and currency exchangers have also been authorized to use bitcoin legally mined in the country to pay for imports.
