Parliament Prioritizes Review of Penalties for Illegal Cryptocurrency Mining

The Islamic Consultative Assembly approved, with 167 votes in favor, 3 against, and 5 abstentions, the urgent review of a bill to combat the illegal use of electricity in cryptocurrency mining. If finally approved, this bill will add Article 687 bis to the Islamic Penal Code, bringing legal action against illegal mining into a new phase. Alireza Salimi, a member of the parliamentary board, announced that there are over 13,000 illegal cryptocurrency mining centers operating in the country, with the number of active miners reaching around 700,000 devices. He estimated the electricity consumption of illegal mining at about 3,750 megawatts, equivalent to the electricity consumption of four provinces and about 8% of the country's household electricity consumption. Salimi stated that the annual damage caused by illegal cryptocurrency mining amounts to $2.5 billion and mentioned that some centers use gas and diesel to supply energy. The details of the penalties and how to deal with the equipment will be clarified in the later stages of the bill's review.

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