The next wave of crypto adoption in the region is likely to come from citizens in unstable autocracies or those facing crushing inflation in countries like Iran and Lebanon.
Geo-fencing and other user restrictions are like “no access” signs around platforms and protocols that were built for financial inclusion.
Hassan Rouhani talked about regulating cryptocurrencies during a meeting on consumer prices.
Even authorized miners will have to halt operations until late September.
The Iranian government is attempting to trace illegal crypto-mining operations to reduce the strain on the country’s electricity supply.
Although Iranian officials confirmed arresting members of Estavi’s company, it is unclear if the Malaysia-based businessman was one of those detained.
The measure comes as Iran suffers a shortage of hydropower in unusually dry conditions.
The move is said to be an attempt to stop capital flight from Iran.
Iran's push to license bitcoin mining could help it evade U.S. sanctions. But the plan is likely to help some of its people more than others.
The bank had previously stipulated only digital assets for import funding could be used by itself and no one else.
Crypto income could benefit the economy and help bring foreign funds into the country, the think tank says.
The Ethereum incubator's instructional program offers scholarships to help developers get started with coding in Solidity.
Iran has been clamping down on mining farms, but it also wants to use crypto mining to boost the sanctioned nation's revenue stream.
The mostly ASIC devices used to mine bitcoin are said to have been consuming 95 megawatts per hour of electricity at a reduced rate.
The illegal mining operations will be disconnected from the national power grid and the miners will face prosecution.