RATE Group | Iranian Police Seize Batch of 117 Smuggled Crypto Mining Machines
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Iranian Police Seize Batch of 117 Smuggled Crypto Mining Machines

02 Aug Iranian Police Seize Batch of 117 Smuggled Crypto Mining Machines

Posted at 02:47h in Cryptocurrency News by

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Iranian provincial police have arrested an individual smuggling in cryptocurrency mining machines, local news agency Fars News reported on July 31.

The Saveh Police Department’s Anti-Trafficking Police seized a truck allegedly carrying 117 cryptocurrency mining machines to the value of 11.7 billion Iranian rials ($277,876 at press time).

According to Sardar Kiomars Azizi, a Police News Agency official, the police confiscated the aforementioned crypto mining equipment and arrested the truck driver.

Crypto mining in complicated regulatory territory

The news comes in the wake of the Iranian government’s authorization of cryptocurrency mining as an industrial activity in July. Now, entities engaged in the crypto mining will be required to seek a license from Iran’s Ministry of Industry, Mine and Trade.

The government’s decision nonetheless underscores that using cryptocurrencies for domestic transactions remains outlawed and that those engaged in the industry should bear…

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