US EditionKuwait cracks down on cryptocurrency mining amid power crisis
- Kuwaiti authorities launched a crackdown on illegal cryptocurrency mining targeting over 60 suspects across residential properties last Friday in Kuwait City.
- The campaign follows an absolute ban on crypto mining issued by Kuwait's anti-money laundering committee due to unauthorized electricity use straining the national grid.
- Officials coordinated power disconnections at mining-linked sites while continuing sweeps to identify illicit operations causing outages and disruptions in various regions including Al-Wafrah.
- Some suspects faced detention while others were released on 500-dinar bail amid evidence of unexplained daily deposits up to 4,000 dinars linked to the mining activities.
- The crackdown aims to protect public safety and the electrical grid before summer, with authorities expecting more individuals to be investigated and prosecuted for unlawful mining.
30 Articles
30 Articles
Kuwait declares cryptocurrency mining illegal amid power crisis crackdown
Kuwait has launched a sweeping crackdown on cryptocurrency mining, blaming the activity for worsening a power crisis that has led to rolling blackouts across the country as temperatures soar and air conditioning demand surges. The Ministry of Interior announced last week that it had begun a "wide-ranging" security operation targeting...Read Entire Article
Kuwait cracks down on cryptocurrency mining amid power crisis
Kuwait has launched a crackdown on cryptocurrency miners it accuses of being a "major" cause of a power crisis that has led to blackouts, as authorities seek to ease pressure on the grid before the start of a sweltering summer.
Kuwait Cracks Down on Crypto Miners Amid Blackouts and Power Crisis
With summer temperatures set to soar, the government is racing to stabilize its strained electrical grid before widespread blackouts become […] The post Kuwait Cracks Down on Crypto Miners Amid Blackouts and Power Crisis appeared first on Coindoo.
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