Kuwait Cracks Down on Illegal Cryptocurrency Mining to Protect National Grid

BlockBeats News, May 1st, according to CoinDesk, Kuwaiti authorities are cracking down on illegal cryptocurrency mining activities, with over 60 individuals currently under investigation. This is part of a large-scale operation in the country aimed at eradicating unlicensed mining. The security operation, led by the Public Prosecutor's Office, was launched nationwide last Friday, focusing on residential areas where residents are suspected of installing mining rigs.

Acting Prime Minister Sheikh Fahad Al-Yousef and Minister of Electricity Subaih Al-Mukhaizeem personally coordinated the operation to curb illegal electricity consumption leading to grid overload and localized power outages. The Kuwaiti Ministry of Electricity has started to disconnect power supply to properties involved in mining activities, and reconnection requires approval from the Ministry of Interior. The country's Anti-Money Laundering Committee, with support from regulatory bodies like the Kuwaiti National Bank, has completely banned all cryptocurrency mining activities. Authorities have warned that more individuals implicated in the coming weeks may be discovered, and follow-up investigations are underway in multiple communities.