Crypto crackdown continues in Iran, China as bitcoin drops to lowest value in months


Source: msn.com msn.com

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The crackdown by certain countries on cryptocurrency mining has continued with Iranian police seizing 7000 computers from an illegal farm, the country's state media has reported. Iran has banned mining for four months as it attempts to reduce power blackouts caused by the increasing energy demands during a hot and dry summer. Tehran police chief General Hossein Rahimi said the computers were seized in an abandoned factory, reported Reuters. Elliptic, a blockchain specialist company, estimates around 4.5 percent of all bitcoin mining takes place in Iran, allowing it to avoid trade embargoes and earn hundreds of millions of dollars in...