Iran licenses 14 Bitcoin Mining Farms, Bank of England debating CBDC and Coinbase is selling Software to Secret Service

2 min readJul 15, 2020
Photo by André François McKenzie on Unsplash

Iran Licenses 14 Bitcoin Mining Farms

Iran has issued permits for 14 bitcoin mining farms to start their activities in the country. On top of that, they will cut up to 47% off of the electricity tariff in order to support authorized cryptocurrency mining centers.

Crypto miners will soon have to register with the government. Each of these farms have a capacity of 300 megawatts.

In a bid to support authorized cryptocurrency mining, Iran Power Generation, Distribution and Transmission Company (Tavanir) said it will cut up to 47% of the electricity tariff for miners during the peak consumption periods.

The mining cannot be done anonymously. Miners will have to disclose their identities, the size of their mining farms and their mining equipment type with the Ministry of Industry, Mine and Trade.


Bank of England Debating Digital Currency Creation

The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey.

“We are looking at the question of, should we create a Bank of England digital currency,” Bailey said Monday in a webinar event with students.

“We’ll go on looking at it, as it does have huge implications on the nature of payments and society.”

China leads the race with their Digital Currency/Electronic Payment (DC/EP), but many other countries like South Korea, Tunisia and France are also doing research about this digital infrastructure.

It’s worth noticing that a CBDC is the opposite of Bitcoin. Despite both currencies are digital, there are many differences. Bitcoin is decentralized, permissionless and censorship resistant. The characteristics of such a CBDC will most likely be the opposite.

Source: Bloomberg

Coinbase is selling blockchain analytics software to the US Secret Service

Crypto exchange Coinbase is providing its blockchain analytics software to the U.S. Secret Service, according to a public record obtained by The Block.

The Secret Service, which is part of the U.S. Department of Homeland Security, is charged with conducting financial crime investigations in addition to protecting the nation’s top leaders.

Following to the news, CEO Brian Armstrong sent a thread on Twitter regarding this topic:

The Secret Service is not the only government agency interested in Coinbase’s analytics software. Last month, the U.S. Drug Enforcement Administration (DEA) was looking to offer Coinbase up to $250,000 to use it.

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