🚫 Kuwait officially bans cryptocurrency mining! ⚠️🇰🇼
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Decision details:
The Kuwaiti Ministry of Interior issues an official statement banning any activity related to cryptocurrency mining, confirming that this activity is unlicensed and violates local laws.
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Legal bases adopted:
Penal Law No. (16) of 1960
Amendments under Law (31) of 1970
Laws regulating telecommunications, industry, and energy
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Main reasons:
Massive electricity consumption
Impact on the public grid
Power outages
Threat to residential and commercial services
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Do you think the decision will affect crypto activity in the Gulf?
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