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Abkhazia Strategies to Criminalize Crypto Mining as Energy Crisis Deepens— Spreads Temporary Ban

Crypto mining in Abkhazia is quite a hot potato for the de facto state government, which is now strongminded to criminalize such activities. Incessant massive power disturbances, in parallel, are fueling the annoyance of the people to crypto miners. Public Officials to Face Better Consequences Rendering to a report available by E Daily, the Abkhazian government exposed that it is due to current a suggestion to fine miners & also file criminal charges in contradiction of them. The plan is to usual fines up to $8K, which is a considerable amount of money, as it is the same yearly average…

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

Crypto mining in Abkhazia is still a hot potato for the de facto state government, which is now determined to criminalize such activities. Continuous massive power disruptions, in parallel, are fueling the anger of the people towards crypto miners. Public Officials to Face Bigger Penalties According to a report published by E Daily, the Abkhazian government revealed that it’s due to present a proposal to fine miners and also file criminal charges against them. The plan is to set fines up to $8,000, which is a considerable amount of money, as it is the same yearly average income per individual…

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Abkhazia Lifts Two-Year Ban on Bitcoin Mining, Moves to Regulate the Sector

Abkhazia, the self-governing but disputed territory of just 245,000 people sandwiched between Russia and Georgia, has lifted its two-year ban on cryptocurrency mining. The ban came into effect in December 2018 after a surge in mining activity left the region facing an energy crisis. Now, the government is moving to regulate the industry in an effort to flush out illegal miners as well as to control the amount of electricity utilized in the extraction of bitcoin. According to Abkhazia’s official cabinet website, the new plan will include regulation by the Ministry of Economy and a two-month moratorium on the importation…

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Abkhazia Set To Lift Crypto Mining Ban, Aiming Now For Regulation

The de-facto state of Abkhazia has recently given up in its fight to completely prohibit crypto mining. Quite recently, the president of the nation, Aslan Bzhania, made it clear that measures will be taken place in order to lift the current crypto ban of the nation. Shifting Gears To Combat Crypto Finanz.ru, a media outlet, revealed that Bzhania stated on Thursday that his government is making plans to introduce a mechanism to regulate crypto mining in the country. This mechanism will be in contrast with the current prohibition the state has on blockchain-related activities. Massive Energy Crisis Caused By Crypto…

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