kuwaitnews

🔴 Kuwait bans Bitcoin mining — 'a threat to the power grid and safety'

— The Ministry of Interior of Kuwait has announced a ban on BTC mining, calling it illegal and dangerous.
— In a statement dated April 22, it was noted:
• violates the criminal code and IT laws,
• creates overload on the power grid,
• threatens public safety.

📉 BTC dropped by -1.12% following the news.
Earlier, in 2023, the country had already banned cryptocurrency exchanges and investments in crypto.

What about other countries? — In Belarus and Pakistan, they are exploring how to direct excess energy to mining — the opposite approach.

Market opinion: — Such bans do not have a global impact on BTC,
— But they increase the migration of miners to places with more lenient regulators and cheaper electricity.

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