Abkhazia Extends Crypto Mining Ban Till End of Year

Authorities successful Abkhazia person decided to support a prohibition connected cryptocurrency mining successful the territory. The partially recognized republic successful the South Caucasus is restricting the energy-intensive extraction of integer currencies, citing problems with powerfulness supply.

Bitcoin Mining Remains Prohibited successful Abkhazia

The authorities of Abkhazia, a breakaway republic successful Georgia, has prolonged existent restrictions connected the minting of cryptocurrencies until the extremity of 2022. On April 1, the furniture successful Sukhumi adopted the respective amendments to its decree from December 2020, which banned the usage of energy for mining and halted imports of applicable equipment.

The de-facto authorities has been struggling with powerfulness shortages and held talks with the Russian Federation, its main supporter, to guarantee further vigor supplies. Frequent breakdowns of its electrical infrastructure person besides been blamed connected crypto miners. The persistent problems person postponed a program to legalize and modulate the industry.

Abkhazia began to curb crypto mining activities backmost successful 2018. Last April, the “temporary ban” was extended for different year. In October, the republic’s telecom and media watchdog said its restrictions connected net entree for miners volition besides stay successful spot for the clip being.

Authorities successful the republic person been going aft crypto miners and announced the seizure of 6,000 units of mining hardware successful September. At the aforesaid time, Abkhaz officials acknowledged that an estimated 30,000 mining rigs remained successful operation, frankincense admitting a nonaccomplishment to forestall the colonisation from minting integer currencies, which has go an alternate income root for many.

In its efforts to woody with the deepening vigor crisis, the authorities introduced fines and adjacent criminalized the amerciable usage of electrical powerfulness for crypto mining. A fig of underground mining operations were shut down successful June.

Last summer, residents of Ochamchira portion progressive successful cryptocurrency mining took to the streets to protestation the actions of the section instrumentality enforcement, aft constabulary conducted respective raids against amerciable mining farms successful 2 villages successful the district.

Do you spot a aboriginal for cryptocurrency mining successful Abkhazia? Share your thoughts connected the taxable successful the comments conception below.

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