Abkhazia Plans to Criminalize Crypto Mining as Energy Crisis Deepens— Extends Temporary Ban

Abkhazia Plans to Criminalize Crypto Mining as Energy Crisis Deepens— Extends Temporary Ban

THELOGICALINDIAN - Crypto mining in Abkhazia is still a hot potato for the de facto accompaniment government which is now bent to criminalize such activities Continuous massive ability disruptions in alongside are fueling the acrimony of the bodies appear crypto miners

Public Officials to Face Bigger Penalties

According to a address published by E Daily, the Abkhazian government appear that it’s due to present a angle to accomplished miners and additionally book bent accuse adjoin them.

The plan is to set fines up to $8,000, which is a ample bulk of money, as it is the aforementioned annual boilerplate assets per alone in the de facto South Caucasus state, according to 20 minimum civic wages.

But such punishments are the everyman ones advised in the proposal.

In fact, the government seeks to hit aback with alike added cogent penalties adjoin accessible agents who are bent in crypto mining activities, as able-bodied as companies active rigs, with up to 5,000 minimum civic wages.

However, the address abundant the punishments that could face people, accessible officials, or businesses for “repeated offenses” in commendations to crypto mining activities:

Anyone who attempts to affix mining rigs on ability grids to a all-embracing acreage in Abkhazia (recognized by best countries as allotment of Georgia) could face a bastille time of one to three years, calm with the abduction of the equipment.

Government Extended Again Its ‘Temporary Ban’ on Crypto Mining

The government additionally published a decree which continued its “temporary ban” on crypto mining until, at least, March 31, 2022. As Bitcoin.com News reported in October 2020, Abkhazia aerial its two-year ban on cryptocurrency mining.

The ban came into aftereffect in December 2023 afterwards a billow in mining action larboard the arena adverse an activity crisis. But the latest account declared a turnaround in the aftermost year’s ban lifting.

Moreover, in December 2020, the addict of a ability substation provoked a massive blackout beyond the de facto South Caucasus state. The bearings happened amidst the abnegation of crypto miners to apathetic bottomward their operations in the partially accustomed free republic of Abkhazia.

What are your thoughts on the accepted crypto mining crisis in Abkhazia? Let us apperceive in the comments area below.

Image Credits: Shutterstock, Pixabay, Wiki Commons