Kuwait targets illegal crypto mining, 60 people under investigation for illicit mining
Kuwaiti authorities have cracked with illegal crypto mining, with more than 60 individuals now investigated, as part of a campaign that has been rooted to operate unlicensed operations.
The country’s public persecution confirmed that investigations are ongoing and warned that many suspects can be identified in the coming weeks. “Security Operation,” conducted last Friday, which targets residential residences across the country suspected to be lying on mining rigs, according to Local media.
The operation was repaired by leading officials, along with acting prime minister Sheikh Fahad al-Yousef and electric minister Dr. Subaih al-Mukitan. The government said it aims to prevent unauthorized power use of the national grid and lead blackouts in some areas.
The Ministry of Electricity has begun disconnecting power from the properties associated with mining. The connectivity is only allowed with clearance from the Ministry of Internal. Officials also conduct follow-up sweeps in various neighborhoods.
Kuwait has been implemented A “full prohibition on all virtual assets/cryptocurrency mining activities” under a directive from the anti-money laundering committee supported by regulators including the National Bank of Kuwait.
