Iranian Authorities Post Bounty On Bitcoin Miners Heads, Whistleblowers Collect 20% Of The Fees

As reported by PressTV, the Iranian news outlet, on November 13th, authorities in Iran are offering bounties to people who expose unauthorized crypto mining operations.

The announcement was made by an Energy Ministry’s spokesman at an interview with IRIB News. An electricity pricing scheme for miners has also been illustrated in the same interview. The same spokesman Mostafa Rajabi has said that those who give authorities information about illicit cryptocurrency mining operations using subsidized electricity are going to receive up to 20% from the recovered damages.

Miners Banned to Operate During Peak Consumption Hours

Mostafa Rajabi claimed the new regulations are meant to stop miners from operating at peak hours of electricity consumption. He added that the average price for kw-hour is going to be 9,650 rials, which is the equivalent of $0.29. This price is for miners and export. More than this, it will be half when the weather is cold, only to become 4 times more expensive when it’s warm and everyone consumes more electricity.

New Regulations Come After Arrest

The new regulations regarding crypto mining are following an arrest that was reported back in August when a man was caught bringing illegal mining machines into Iran. The country has also announced in September that it may instill a new rule for miners to register all their crypto operations. Two months ago, Iran’s National Tax Administration has also made the announcement that mining firms agreeing to repatriate their earnings from overseas may be exempted from paying some taxes.

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