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To learn more, download our new guide to sanctions compliance in cryptoassets. In the face of these sanctions, Iran has turned to an unlikely solution - Bitcoin mining. Converting Oil to Crypto Bitcoin and other cryptoasset networks run on electricity, and quite a lot of it. As the US government considers whether to lift some sanctions on Iran in exchange for a return to a nuclear deal, it will need to consider the role that Bitcoin mining plays in enabling Iran to monetise its natural resources and access financial services such as payments. The blog is not a substitute for obtaining any legal, financial or any other form of professional advice from a suitably qualified and licensed advisor.
