In a recent study, the well-connected Iranian Presidential Center for Strategic Studies suggested that developing a regulated crypto mining industry could help the country circumvent sanctions without spending precious foreign currency reserves, as local buyers could obtain Bitcoin for rials instead of dollars.
Power firm Chernomorenergo’s general director Mikhail Valerievich Logua, an Abkhaz politician, has signed an order imposing “the immediate shutdown of all operating farms for the extraction of cryptocurrencies” in Abkhazia.
The article said Ratcliffe’s letter represented “a push by President Trump's spy chief to convince the SEC to implement rules that make it easier for U.S.-owned cryptocurrency companies to compete against those based in and controlled by China.”
According to an announcement, DMG Blockchain Solutions will leverage the license to acquire the cheapest electrical energy from within the U.S. and Canada to power its mining and computing efforts.
