Kuwait declares cryptocurrency mining illegal

This article is machine translated
Show original

According to ChainCatcher, citing Bitcoin.com, the Kuwaiti Ministry of Interior has officially declared cryptocurrency mining as an illegal activity. The announcement stated that cryptocurrency mining violates multiple laws, including the 1970 Criminal Law Amendment No. 31, and places significant strain on the country's electrical infrastructure.

The Ministry of Interior emphasized that unauthorized mining activities lead to excessive energy consumption, increase public network load, and may cause power interruptions that affect basic service supplies in residential, commercial, and industrial areas. The department has collaborated with multiple government agencies, including the Ministry of Electricity, Water, and Renewable Energy, demanding that relevant entities quickly adjust their compliance status, or they will take necessary legal measures and refer violators to the appropriate investigative authorities.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments