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Domestic Energy Crisis: Kosovo Bans Crypto Mining

Economy Minister Artane Rizvanolli has publicly confirmed that the mining of cryptocurrencies in the country has been banned.

In light of the domestic energy crisis in Kosovo, the country has declared a state of emergency for 2 months in an effort to compensate for the unstable power grid.

After having power shortages in an attempt to conserve energy, Kosovo has introduced a 60-day state of emergency and established a Technical Committee for Emergency measures to tackle the energy crisis.

Upon the recommendation of the designated committee, Economy Minister Artane Rizvanolli has publicly confirmed that the mining of cryptocurrencies in the country has been banned until March 6, 2022, throughout the whole territory of Kosovo. 

During this time the government will have more time to redistribute monetary funds to import energy and further impose the already existing power shortages for conserving energy.

Kosovo is not the first country to have taken these measures. As reported by Crypto Academy, Iran banned legitimate crypto mining operations while working on identifying illegal operations to stabilize the country’s power grid. 

Also read: 

NFT Market Ethereum-Based Volumes Broke the Trend After Months of Falling

US Becomes the Biggest Destination for Bitcoin Miners Amid China’s Crypto Ban

The SEC Won’t Ban Bitcoin Says Gary Gensler

China to Raid State Entities to Wipe Out Crypto Mining

Bitcoin Price Has Increased 50% Since China’s Crypto Crackdown

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