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Kosovo Renews Crypto Mining Ban Amid Rising Energy Prices

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The Kosovo government has taken measures aimed at maintaining the energy supply in the coming months, including a ban on cryptocurrency mining. The move comes amid soaring import prices, and restrictions could be extended for up to six months.

Kosovo authorities restore ban on cryptocurrency mining

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Kosovo’s executive branch has approved certain steps to ensure that homes and businesses have sufficient energy supplies over the coming weeks and months. According to the TASS agency, the corresponding decree was published by the government of Pristina this week.

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Measures taken by the cabinet include helping households meet their heating needs, supporting the national grid operator to secure electricity distribution, and efforts to reduce consumption by all institutions.

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The ban on the use of electricity for the production of digital currency is also indicated as a necessary step. Energy-intensive industrial activity was brought to a halt for the first time last winter when the partially recognized republic in Southeast Europe faced power shortages.

The government explained that it was imposing “extraordinary measures” due to the current global energy situation, namely the soaring pace of Kosovo’s energy imports and a possible ban on the export of fossil materials from some European countries. The latter may lead to further price increases.

In a statement, the Kosovo authorities insist that their main motivation is not only to ensure sufficient energy supply during the winter, but also to protect the public interest. The measures, including a ban on mining, were introduced for an initial period of two months, but ministers will be able to extend them for up to 180 days by a majority vote.

In addition to suspending cryptocurrency mining last year, the government has also prosecuted operators of illegal mining facilities, confiscating equipment in a series of police raids, including hundreds of coin-mining devices from underground crypto farms.

The crackdown threatened to escalate ethnic tensions in the small country as the Albanian-led central government targeted the Serb-majority regions in the north, where consumers have been refusing to pay their electricity bills for more than two decades because they do not recognize Pristina’s authority.

Do you expect Kosovo to extend the ban on cryptocurrency mining to the full six months specified in the government decree? Share your thoughts on this subject in the comments section below.



Credit : news.bitcoin.com

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