Kuwait warns of illegal encryption mining after more than 1,000 exposed sites in the country’s investigation

The Kuwaiti Ministry of Interior issued a warning about illegal encryption mining in the country, and called on violations to stop their illegal activities or to face legal consequences.

the advertisementIt was released on April 22, stated that the cryptocurrency Mining In Kuwait is illegal because it violates many national laws. This includes the Penal Code, which deals with unauthorized or harmful activities, as well as the law that governs the country’s telecommunications and technology sector. It also violates the industry law, which controls industrial and manufacturing practices, as well as municipal regulations that oversee the proper use of resources and infrastructure.

The ministry’s warning comes after the abnormal electricity use data revealed that more than 1,000 sites may manage encryption mining platforms. Specifically, the joint effort from the Ministry of Electricity, Water and Renewable Energy has identified homes in the Al-Wafra area to consume unusually high amounts of electricity-up to 20 times the typical use in the neighborhood.

The ban on mining in Kuwait was part of Banning a blanket On all activities related to encryption-including mining, trade and transfers-and it was outlet By the Capital Markets Authority in 2023. However, mining activity remains despite the ban, most likely to low electricity costs in Kuwait.

Some residents are still participating in the encryption trade, as shown by the latter Bitcoin Kuwait scandal. Despite the official ban, the symbol was able to obtain a large -scale traction between retailers before collapse after a short period of launch and mixing with an estimated 40 million dinars of Kuwait ($ 130 million) in investor funds.