Cryptocurrency mining in Kuwait is illegal
In a press statement from the General Department of Security Relations and Media, the ministry clarified that cryptocurrency mining violates several key laws, including Law No. (56) of 1996 related to the Industry Law, Law No. (31) of 1970 amending certain provisions of the Penal Code No. (16) of 1960, Law No. (37) of 2014 establishing the Communications and Information Technology Regulatory Authority (CITRA), and Law No. (33) of 2016 concerning the Kuwait Municipality.
The ministry stressed that cryptocurrency mining leads to significant depletion of electrical energy, increasing the load on the public power network. This can result in power outages, affecting residential, commercial, and service areas, which poses a threat to public safety and disrupts the regular delivery of essential services.
This warning follows joint efforts between the Ministry of Interior, the Ministry of Electricity, Water and Renewable Energy, the Communications and Information Technology Authority, the Public Authority for Industry, and Kuwait Municipality. These efforts are part of a coordinated national initiative to address these illegal practices and reduce their adverse effects on the country's electrical infrastructure.
The Ministry of Interior urged violators to promptly rectify their activities, emphasizing that failure to comply will result in necessary legal actions. Violators will be referred to the appropriate investigative authorities for further action in accordance with applicable laws.
Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info).
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