Tag: Iran

May 27, 2021 BY Steffy Bogdanova

Iran President clamps down on bitcoin mining amidst power cuts

The cryptocurrency mining industry has become prominent in Iran partially due to the presence of highly subsidised electricity within an extremely power-reliant trade. With such subsidies in place, imports can then theoretically be paid for using bitcoin. However, the US has implemented sanctions that bar all banking transactions between themselves and Iran, and with blockchain…

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January 08, 2020 BY Valentina Kirilova

US – Iran tension, are we going to war and how will the markets decode the scene?

The following market analysis was prepared for LeapRate by Ramy Abouzaid, ATFX (AE) Head of Market Research. In the early hours of Wednesday the 8th of January 2020, the Pentagon confirmed the attacks targeting two American bases on Iraqi soil with fifteen ballistic missiles launched from Iranian territory. According to US military sources, via ABC news networks,…

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January 07, 2020 BY Mariela Naydenova

The crisis in Iran pushes a crypto boom

The possibility of a full-blown war between Iran and the United States has triggered a cryptocurrency boom in the Middle Eastern country. The details around the "crypto spring" in Iran come from the Nikkei Asian Review. After the January 3rd killings of the Iranian military commander Quasem Soleimani, Bitcoin's price has increased by 4%, realizing…

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Securities and Exchange Organization
December 20, 2019 BY Mariela Naydenova

Are Muslim countries going to have their own crypto?

The President of Iran has proposed that Muslim countries adopt a cryptocurrency. President Hassan Rouhani commented that the domination of the US dollar has allowed economic sanctions to basically weaken economies. Thus, an action must be taken to neutralize this negative effect of the USD. The President of Iran has expressed his wish for a cryptocurrency…

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Bankenverband,cryptocurrency,digital currency
November 15, 2019 BY Mariela Naydenova

Iran offers bounties to anyone who exposes illegal crypto mining operations

Countries are finding different ways to fight illegal cryptocurrency mining activities. One of the more interesting approaches comes from Iran, which has started offering bounties to people who expose illegal crypto mining operations. The announcement came after new regulations were set in motion for the cryptocurrency industry. The news comes from local agency IRIB News.…

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Bankenverband,cryptocurrency,digital currency
July 29, 2019 BY Mariela Naydenova

Bitcoin mining becomes an official industry in Iran

The entire world, it seems, is concerned about the economic and environmental cost of mining bitcoin. Back in June 2019, Leaprate reported several news articles about the huge carbon imprint that bitcoin mining leaves: ....bitcoin mining caused around 23 millions tons of carbon dioxide – an amount similar to the one in major cities or…

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Chinese cabinet officials rescind previous threat to ban mining operations
June 26, 2019 BY Mariela Naydenova

Iran cuts off power for crypto mining - the reasons

The Government of Iran has decided to stop the power for crypto mining until new prices for energy are approved, reported Zero Hedge. An Official of the Iran's Ministry of Energy, Mr. Mostafa Rajabi Mashhadi, has revealed that the electricity consumption in the country has climbed with 7% for a period of one month only…

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Securities and Exchange Organization
February 06, 2019 BY Mariela Naydenova

PayMon - the gold-backed digital coin of Iranian banks

The idea that Iran is going to launch its very own stablecoin has been around for some time now. The country is undeniably working towards liberalizing its crypto space and embracing the technology of blockchain. Reportedly, Iranian banks have already launched their very own cryptocurrency, called PayMon. It is backed by gold. The four Iranian…

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