Iran's strict regulations have caused miners to move abroad, and non-profit organizations are trying to lobby for reforms through parliament and other means

Recently approved cryptocurrency mining regulations by the Iranian government appear to be forcing large miners to move their operations abroad. Days after the Iranian cabinet implemented a set of cryptocurrency mining regulations on August 4, 2019, reports of miners packing up and moving began to emerge.

Russia, Georgia, Kazakhstan, Armenia, and even Iraq are the preferred destinations considered more suitable for cryptocurrency mining by professional Iranian miners.

Sepehr Mohammadi, head of the nonprofit Iranian Blockchain Community (IBC), said, “We welcome the government’s steps to regulate and recognize cryptocurrency mining as an industry, but energy prices are by no means economical or competitive and will only lead to capital flight.” In addition, he said, the IBC is trying to lobby for reforms to regulations through parliament and other entities. If all else fails, it will consider filing a formal complaint with the Administrative Court.