Iranian Authorities Arrested Crypto Mining Parts Smuggler and Confiscated 117 Pieces

By Daniel T. | August 3, 2019

The police in an Iranian province has brought into custody a smuggler, illegally bringing crypto mining machines into the region, as reported by Fars News on July 31.

Specifically, the Anti-Trafficking Police of the Saveh Police Department has confiscated a truck, allegedly loaded with 117 crypto mining pieces, which is worth 11.7 billion Iranian rials ($277,876).

As revealed by Sardar Kiomars Azizi – a spokesperson of the Police News Agency – the law enforcement officers have seized the truck, along with bringing the driver into custody.

The confiscation has happened not long after the Iranian government deemed crypto mining as an industry, in July this year. From now on, businesses working in the crypto mining filed are legally required to obtain an operating license, from Iran’s Ministry of Industry, Mine and Trade.

Nevertheless, the Iranian authorities clarified that digital coins employed in transactions within the country is still considered outlawed, and any entity taking part in the activities should be entirely responsible for any consequences, without the support from the  government or local banking sector.

Although crypto mining is classified as a legitimate business from now on, Jamal Arounaghi – Deputy President of the Islamic Republic of Iran Customs Administration – reportedly clarified that there yet to be any licenses officially granted to import the equipments from foreign sources.

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