Iranian authorities have conducted many raids on crypto miners in abandoned factories, homes, and small businesses — nothing quite as high profile as the country’s largest stock exchange.
Ali Sahraee, the chief executive officer of the Tehran Stock Exchange since 2018, has reportedly resigned after the discovery of cryptocurrency mining rigs in the building.
According to a report from the country’s state-run media, the Islamic Republic News Agency, Tehran Stock Exchange, or TSE, market vice president Mahmoud Goudarzi will be leadingthe company following the departure of Sahraee.
The TSE reportedly initially denied the existence of the miners, saying the equipment was part of a research project. However, executive deputy director Beheshti-Sarsht later said the company should be held accountable for its actions.
Iranian President Hassan Rouhani announced in May that Bitcoin (BTC) and cryptocurrency mining would be prohibited over the summer in an attempt to reduce demands on the country’s power grid. It’s unclear when authorities discovered the mining rigs in a “sudden inspection” of the TSE basement, but the activity was seemingly still illegal until the last week of September.