(Beincrypto) Iran government will end ban on cryptocurrency mining starting September 22, as it expects massive power consumption to cool down then.
Iran had banned crypto mining activities in the country to curb power consumption, which it said had overwhelmed the national grid.
The existing ban on crypto mining in Iran on power use concerns has been viewed as counterproductive as unlicensed miners consume about half of daily power output in Tehran, equating to 2,000–3,000 MW per day.
Despite the existing ban, Iran has taken a moderate approach towards cryptocurrencies, and even introduced a legal framework for the industry in June this year.
BTCUSD is up +2.06%, ETHUSD is up +3.11%.
