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Kazakhstan Makes $1.5 Million From Crypto Mining Sector in Q1
1.6.2022
The government of Kazakhstan has collected $1.5 million from crypto miners in the first quarter of this year, official data shows. The money comes from a fee charged on the electricity spent to mint digital currencies, which was introduced in January. Crypto Mining Increases Budget Revenues...
Gov't says crypto miners consume 2% of total electricity in Russia
30.5.2022
Crypto mining falls under the “gray zone” in Russia, which means even though it's not banned, it doesn’t fall under the purview of law which could pose risks for those involved
Crypto Miners Account for Over 2% of Electricity Consumption in Russia, Estimate Suggests
28.5.2022
The share of crypto miners in Russia’s power consumption structure already exceeds 2%, according to a new government estimate. On this backdrop, the country’s industry ministry believes it’s time to bring the sector out of the shadows and regulate it. Crypto Miners Burn More...
No Tax Amnesty for Russian Crypto Miners as Lawmakers Withdraw Proposal
26.5.2022
A new draft law has replaced an earlier bill introducing a one-year tax and customs amnesty for cryptocurrency miners in Russia. The initial proposal has been withdrawn on the grounds that the tax break would have resulted in losses for the state budget. Revised Crypto Mining Legislation Submitted...
Crypto Mining Farm Uncovered in Russia’s Oldest Prison
22.5.2022
Russian law enforcement officials are investigating a crypto mining operation at Butyrka, Russia’s oldest prison. A deputy warden has been accused of stealing electricity to mint digital coins with the help of unidentified accomplices. Deputy Warden Suspected of Mining Cryptocurrency...
3K+ Bit Digital hosting partner's crypto miners go offline after explosion and fire
20.5.2022
The company said it will be seeking reimbursement for the lost revenue from mining crypto, with operations at Niagara Falls "hoped to resume within a few weeks."
Despite Criminalizing Mining, Abkhazia Uncovers Another Crypto Farm
19.5.2022
Even after introducing fines and criminal liability for cryptocurrency mining, Abkhazia continues to find underground facilities for digital currency extraction. This week, law enforcement officials have confiscated dozens of mining devices from an illegal crypto farm. Abkhazia Shuts Down Crypto...
Authorities Seize Over 1,500 Crypto Mining Rigs in Dagestan Crackdown
15.5.2022
Law enforcement and other authorities in Dagestan have closed down two illegal crypto farms, confiscating more than 1,500 mining machines. Government agencies in the republic, considered one of Russia’s capitals of underground coin minting, carry out regular raids against such facilities....
Number of Busted Illegal Crypto Mining Farms in Iran Nears 7,000
14.5.2022
Authorities in Iran have shut down close to 7,000 unauthorized facilities for cryptocurrency mining in the past two years, local media revealed. According to a report, most of the illegal bitcoin farms were concentrated in five provinces of the Islamic Republic, including Tehran. Iran Continues...
Proposed Crypto Mining Ban in Norway Fails to Gain Support in Parliament
13.5.2022
A push to prohibit the energy-intensive proof-of-work mining of cryptocurrencies in Norway has been rejected by the majority of lawmakers. The ban had been suggested by the far-left Red Party which also didn’t win backing to raise an electricity tax for crypto miners. Norway Will Not...
Environmental groups urge US government to take action on crypto miners
10.5.2022
Among the proposals, the group of eight organizations requested the Environmental Protection Agency subject PoW mining firms to “stringent reviews” around operating permits
Argentina Bears Down on Crypto Miners Amid Power Shortage
10.5.2022
Some registered companies saw a 400% increase in their electricity bills in March, while unregistered miners do not plan to stop using subsidized residential tariffs
Russia’s Anti-Monopoly Agency Proposes Higher Electricity Rates for Home Crypto Miners
7.5.2022
The anti-monopoly service of Russia has suggested that Russians minting digital currencies at their homes should pay more for the spent electrical energy. The proposal comes after the submission of a bill tailored to regulate cryptocurrency mining to the Russian parliament. Russian Miners Using...
Nvidia Fined $5.5 Million For Failing To Acknowledge Crypto-Miners Juiced Its Profits
6.5.2022
Nvidia, producer of graphics cards since prehistoric times, has just been fined $5.5 million by the U.S. Securities and Exchange Commission for failing to divulge to investors how much of its 2017-18 revenue came about from crypto-miners.Read more
Georgia to Unveil New Cryptocurrency Law by This Fall
6.5.2022
Authorities in Georgia are now holding discussions with industry representatives to finalize a bill designed to regulate coin trading, among other crypto-related activities. The legislation will be presented to the Georgian society this fall at the latest, a top central bank official announced....
Kazakhstan Amends Registration Rules for Cryptocurrency Miners
5.5.2022
The government of Kazakhstan has revised the registration requirements for persons and companies involved in crypto mining. The updated regulations come amid an ongoing clampdown on the industry in the Central Asian nation, where the influx of miners has been blamed for persisting electricity...
Kazakhstan ramps up power consumption reporting requirements for crypto miners
5.5.2022
Cryptocurrency mining companies will be required to submit comprehensive information about their operations as the country tries to reign in electricity consumption
Kazakhstan Orders Crypto Miners to Register With Authorities
4.5.2022
The Central Asian country is trying to clean up its mining industry in the face of energy shortages
Uzbekistan President Issues Decree Regulating Cryptocurrencies, Mining and Trading
1.5.2022
The government of Uzbekistan has moved to expand its crypto regulations through a decree signed by President Shavkat Mirziyoyev. The document provides definitions for terms like crypto assets, exchange, and mining, and determines the main regulatory body for the industry. Agency Under President...
Bill Regulating Crypto Mining Submitted to Russian Parliament
30.4.2022
A draft law tailored to regulate cryptocurrency mining has been filed with the lower house of Russian parliament, the State Duma. The legislation provides a legal definition for the extraction of digital currencies and envisages the establishment of a register for miners. Russian Lawmakers...