Abkhazia Extends Internet Restrictions for Cryptocurrency Miners
The government in Abkhazia has extended an order prohibiting access to internet sites used by cryptocurrency miners. The measure is part of a wider ban on activities related to the extraction of digital coins that also limits the use of electricity and imports of mining equipment in the breakaway Georgian republic. Authorities in Abkhazia Confirm Ban on Websites Needed by Local Miners Abkhazia’s telecom and media watchdog has extended internet restrictions affecting crypto mining operations in the country. According to an order issued by the State Committee for Communications, Mass....
Related News
Authorities in Abkhazia have decided to maintain a ban on cryptocurrency mining in the territory. The partially recognized republic in the South Caucasus is restricting the energy-intensive extraction of digital currencies, citing problems with power supply.
Bitcoin Mining Remains Prohibited in Abkhazia
The government of Abkhazia, a breakaway republic in Georgia, has prolonged current restrictions on the minting of cryptocurrencies until the end of 2022. On April 1, the cabinet in Sukhumi adopted the respective amendments to its decree from December 2020, which banned the use....
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....
The government of Abkhazia is negotiating with Russia to solve a problem that led to a ban on cryptocurrency mining. The partially recognized republic in the South Caucasus is now planning to legalize the industry and source sufficient power supplies from its energy-rich northern neighbor. Abkhazia Wants to Create Conditions for Cryptocurrency Mining The autonomous Republic of Abkhazia in northwestern Georgia is holding talks with the Russian Federation on the supply of electricity to satisfy its needs. Those of the energy-hungry crypto mining sector are also covered by the negotiations,....
The crypto mining crisis in Abkhazia is closely reaching its boiling point following the burnout of a power substation amid the refusal of both illegal and legal crypto miners to slow down their operations in the state. Crypto Mining Crisis Abkhazia Keeps Worsening Sputnik Abkhazia has reported that an incident happened over the weekend, specifically on December 5, 2020, as distribution lines and power cells were affected by the overheating of the Sukhum-1 substation. The situation forced them to call out experts from all the branches of the energy provider Chernomorenergo to work....
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 Farm, Seizes Mining Hardware
Police in Abkhazia have closed down another crypto mining installation in a rural area of the breakaway Georgian republic. The illegal coin minting facility was located in the village of Yashtuha, Sukhumi region, the Ministry of Internal Affairs....