According to research by blockchain analysis firm Chainalysis, some of the international sanctions imposed on Iran through the cryptocurrency ecosystem is avoided.
According to the report shared by Chainalysis, Bitcoin (BTC) mining was delivered to Iran between 2015-2021. More than $186 million resulted in the inflow of capital.
The favorable tariffs offered by Iran, one of the world’s largest energy producers, make it an attractive country for cryptocurrency mining. The Iranian government has given miners in 2019 to seize the economic opportunity this presents. to distribute licenses started.
Increasing mining activities and miners across the country “about 85 percent of it” unlicensed and illegal operation, some regional to power outages caused other problems as well.
According to the Chainalysis report, Iran-based businesses and organizations will only operate in 2021. abroad businesses and organizations with a two-fold increase compared to the previous year Cryptocurrency worth $1.16 billion sent.
Most of this money from mineral pools come out to cryptocurrency exchanges While it was stated that the mining pools in Iran were sent to foreign exchanges between January 1 and December 31, approximately He sent 343 thousand dollars of crypto money detected.
In light of this data, Chainalysis analysts say, “The number of $186 million given is Iran’s revenue from mining between 2015-2021. probably under” commented.
used by Iran to evade international sanctions. “crypto ecosystem of one of the key corridors” While it is stated that “We recommend that government agencies monitor this event closely and advise US crypto businesses and financial institutions to do the same to avoid the risk of sanctions breaches.” statement was made.
The US Office of Foreign Assets Protection (OFAC) has banned individuals and institutions across the US from conducting financial transactions with businesses and institutions in Iran, including the country’s leading financial institutions and the central bank.