A city government in South Korea plans to confiscate crypto assets from citizens who owe the equivalent of several hundred dollars or more in taxes, Korean media have reported. This comes as part of a wider crackdown on evaders.

The price of Bitcoin, the world’s highest-valued cryptocurrency, surged past the $64,000 mark on Wednesday approaching an all-time high reached in November 2021, according to CoinDesk.

Nigeria has blocked user access to several major cryptocurrency exchanges in a bid to protect the national currency, the naira, according to a report this week by the local online newspaper Premium Times. The report stated that the measures had been ordered by the Nigerian Communications Commission.

The Iranian government has amended its regulations on cryptocurrencies to allow them be exclusively used for funding imports at a time of increased pressure on the countrys normal use of hard currencies. The Cabinet amended a previously issued legislation on the use of cryptocurrencies in Iran by redirecting digital monies into the Central Bank ...

Press TV - iMiner, a cryptocurrency company registered in Turkey, has been granted a license to mine digital coins and offer trading and custody services in Iran, Tabnak news website reports. The charter issued by Irans Ministry of Industry, Mine and Trade will allow the company to operate with a computing power of 96,000 terahash per second at ...

Foreign Policy |Tanvi Ratna: As the United States expands its sanctions, Iran has been ramping up its use of cryptocurrencies to get around them. In narrow terms, the economic sanctions imposed by the United States on Iran in the last two years have been effective, shrinking the Iranian economy by 10 to 20 percent. But they have also accelerated ...

Financial Tribune - The Ministry of Industries, Mining and Trade has issued 1,000 plus licenses for cryptocurrency mining units so far, an official with Irans ICT Guild Organization said. A limited number of authorized mining farms currently are active across the country. "Our studies show that the crypto mining industry has the potential to ...

Tehran Times - Iranian government has introduced new rules for regulation of cryptocurrency market as more people enter the market to access international currencies in the sanctions era. As reported by Press TV, according to a new bill approved by the cabinet and published on Sunday, any trade activity involving cryprocurrencies inside the country ...

Tehran Times - The Islamic Republic of Iran Customs Administration (IRICA) has announced that clearing cryptocurrency mining systems and equipment requires necessary permits from the Ministry of Industry, Mining and Trade. According to Mehrdad Jamal Arvanaghi, IRICA deputy for customs affairs, order registration is one of the essential steps for ...

Sputnik - The Iranian cabinet has allowed tech firms to start mining cryptocurrencies but warned about potential risks, the presidential office said in a press release on Monday. "The council of ministers ... has approved the mining of cryptographic processing products", the press release read. At the same time, it stressed that cryptocurrencies ...

MNA Deputy President of the Islamic Republic of Iran Customs Administration (IRICA) Jamal Arounaghi said on Sunday that any license has not been issued for importing miner into the country. IRICA has only determined and defined tariff line for cryptocurrencies extraction devices, he added. According to the request of some organizations, IRICA ...

MNA Irans Minister of Information and Communications Technology Mohammad Javad Azari Jahromi urged the regularization of bitcoin mining business in Iran given the recent reports of bitcoin miners use of Irans cheap power. The minister called for regularizing the operators which are active in crypto-currency mining and added the government ...

Financial Tribune - The production of a single unit of bitcoin withdraws about 200 million rials ($1,400) in state subsidies, the Energy Ministrys spokesman for the power department said. "Cryptocurrency miners have put enormous pressure on the national power grid and the upward consumption trend has increased concerns among energy officials," Mostafa ...

Financial Tribune - Electricity bills for cryptocurrency miners should be calculated in real prices, a deputy energy minister said in Tehran at the weekend. Homayoun Haeri said crypto miners should pay their power bills as per the same rates considered for electricity export, IRNA reported. According to media reports, the government annually ...

Al Monitor | Maziar Motamedi: The biggest players in Iranian banking have joined forces in an effort to empower an ailing banking system that has long suffered from a slew of major issues including a hefty credit crunch. There is no shortage of potential pitfalls and challenges, but the blockchain-enabled platform they have established and its native ...

Bourse and Bazaar | Maziar Motamedi: For decades, Iranians have had to contend with almost complete isolation from international payment systems due to US sanctions. The situation has only worsened following President Donald Trumps decision to withdraw from the Iran nuclear deal and embark on a maximum pressure campaign that targets average Iranians....

Press TV - A blockchain and cryptocurrency research lab has been set up in Iran, says the head of the company contracted by the Central Bank of Iran to design and develop a national digital currency. Despite rising interest in cryptocurrencies, Iran has been slow to embrace them, but CEO of Informatics Services Corporation Seyyed Abotaleb Najafi ...

Financial Tribune - The CBI reemphasizes that the spread of cryptocurrencies will have potential ramifications for monetary and foreign exchange polices T he Central Bank of Iran unveiled a draft of its cryptocurrency policy late on Monday, calling on experts and stakeholders in the area of virtual currencies to comment and send their views on the ...

Coingape - The latestreportunveils Irans upcoming move of launching state-backed cryptocurrency this week. The move is intending to skirt US sanctions and SWIFT payment system. Avoiding US Sanctions Momentarily As per the sources, Iran may introduce its national cryptocurrency at a blockchain-based conference called E-Banking and Payment System....

CryptoNewsZ - Authorities in Iran has taken steps against the popular encrypted messaging application Telegram. The nation has warned Iranian citizens against providing any support for the launch of telegrams coin, the Gram. In Iran, any cooperation with Telegram on the issuing of their crypto will be considered as action against the national security....