🔌 Abkhazia is tightening its fight against cryptocurrency mining
✨ The Parliament of Abkhazia has tightened the fight against cryptocurrency mining by amending the Criminal Code. The new legislation provides for the seizure and confiscation of mining equipment by court order. The move comes in response to the significant energy crisis that has plagued the region since 2020, which is largely attributed to illegal cryptocurrency mining activities, JAMnews reports.
Previously seized mining equipment was temporarily stored in the Ministry of Internal Affairs, and the owners were fined 200,000 rubles for each kilowatt of power. Despite these measures, including the return of equipment under certain conditions, energy consumption in Abkhazia has increased sharply since 2020 from 2 to 3 billion kilowatt-hours. This indicates the ineffectiveness of previous strategies.
