TechFlow news, May 1 — According to CoinDesk, Kuwaiti authorities are cracking down on illegal cryptocurrency mining activities, with over 60 individuals currently under investigation as part of a large-scale operation to eradicate unauthorized mining operations.
The Kuwait Public Prosecution confirmed that investigations are ongoing and warned more suspects could be identified in the coming weeks. The operation is being coordinated by senior officials including Acting Prime Minister Sheikh Fahad Al-Yousef and Electricity Minister Subhi Al-Muhayzim.
The government stated the move aims to curb unauthorized electricity usage, which has placed strain on the national power grid and caused blackouts in certain areas.
The Kuwait Ministry of Electricity has begun cutting off power supplies to properties linked to mining, with reconnection only permitted after receiving authorization from the Ministry of Interior.
It was reported that Kuwait has implemented a policy of "absolute prohibition of all virtual asset/cryptocurrency mining activities" under directives from its Anti-Money Laundering Committee, supported by regulatory bodies including the Central Bank of Kuwait.
