Is crypto ban in Iran?

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In 2018, Iran recognized cryptocurrency mining as a legal industry in order to monitor and regulate the mining farms that were already operating.

The ban is the second time this year that Iran ordered a shutdown of authorised cryptocurrency mining centres to ease the strain on the country’s power plants.

Iran accounts for an estimated 4.5% to 7% of the global Bitcoin hash rate .

Tehran allows cryptocurrencies mined in Iran to pay for imports of goods , which can help it get around the wide-ranging U.S. sanctions that had been imposed on the country by the Trump administration.