Kuwait sternly cracks down on illegal cryptocurrency mining to protect the national power grid

According to CoinDesk, Kuwaiti authorities are cracking down on illegal cryptocurrency mining activities, with over 60 people currently under investigation. This is a large-scale operation carried out by the country aimed at eradicating unlicensed mining. The security operation led by the public prosecution department was launched nationwide last Friday, focusing on residential areas suspected of installing mining machines. Acting Prime Minister Sheikh Fahad Al Yousef and Minister of Electricity Subaih Al Mukhaizeem personally coordinated this operation, aimed at curbing illegal electricity usage that leads to grid overload and power outages in some areas. The Kuwait Ministry of Electricity has started cutting off the power supply to properties related to mining, and approval from the Ministry of Interior is required to restore power. The country's Anti Money Laundering Committee, with the support of regulatory agencies such as the National Bank of Kuwait, has completely banned all cryptocurrency mining activities. The authorities have warned that more suspects may be discovered in the coming weeks and are conducting follow-up investigations in multiple communities.