Iran’s government announced a ban on the mining of bitcoin and other cryptocurrencies, the country’s president, Hassan Rouhani, announced Wednesday 26 May 2021, as officials blame the energy-intensive process for blackouts in a number of Iranian cities.
The ban is effective immediately and will be in place until Sept. 22, Rouhani told state TV, in the latest sign of high-profile rejection of the popular digital currency.
The Iranian capital of Tehran and several other large cities have faced multiple daily power outages for the past few months, and officials blame it on a natural gas shortage, a prolonged drought that’s hobbled the country’s hydroelectricity plants and increasingly, bitcoin mining.
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