Iran temporarily bans cryptocurrency mining after blackouts

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Iran’s President Hassan Rouhani on Wednesday announced a four-month ban on all cryptocurrency mining, a day after his energy minister apologised for unplanned power cuts in major cities. Iranian officials have regularly blamed unlicensed cryptocurrency miners for using vast amounts of electricity. “Cryptocurrency activities and mining cryptocurrencies must be stopped” until September 22, Rouhani said in televised remarks. Power cuts in the peak summer months are not uncommon in Iran, but Tehran and several other major cities were hit by unplanned blackouts late last week, sparking complaints f…

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