Kosovo renews cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. ban amid concerns over rising energy prices.
- Kosovo reiterates crypto mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. ban
- The measure is related to energy problems
- It wants to guarantee electricity supply to homes
The government of Kosovo, a country located on the Balkan peninsula in southwestern Europe, has adopted measures designed to maintain energy supplies in the coming months, including a ban on cryptocurrency mining. The move comes amid a sharp rise in import prices and the restrictions may extend for up to six months.
With these measures, Kosovo’s executive branch is seeking to ensure sufficient energy supply to households and businesses in the coming weeks and months. The news agency Tass reports that the respective decree has been published by the government in the capital, Pristina, this week.
The measures taken by the cabinet of ministers include helping households to meet their heating needs, supporting the national grid operator to ensure the safety of electricity distribution and efforts to reduce consumption by all institutions.
Banning the use of electric power for cryptocurrency mining also figures as a necessary measure.
It is worth noting that this is not the first time the mining ban measure has been taken. Energy-hungry industrial activity first came to a halt earlier this year, in the middle of winter, when the partially recognized republic in southeastern Europe faced energy shortages.
The government explained that it is introducing the “emergency measures The “energy crisis” in relation to the current global energy situation, namely the sharp increase in the rates at which Kosovo is importing its energy and a possible ban on the export of fossil materials from some European countries. The latter may result in further price increases.
In a statement, the Kosovo authorities insisted that their main motivation is not only to ensure sufficient energy supply during the winter (which starts in December), but also to protect the public interest.
Two months, extendable to six months
The measures, including the mining ban, have been imposed for an initial period of two months, but ministers may extend them for up to 180 days with a majority vote.
In addition to suspending cryptocurrency mining last year, the government also went after operators of illegal mining facilities, seizing hardware in a series of police raids, including hundreds of coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency. minting devices from underground crypto farms.
As he explains Bitcoin.com The crackdown threatened to increase ethnic tensions in the small country, as the Albanian-led central government targeted regions with a predominantly Serb population in the north, where consumers have refused to pay their electricity bills for more than two decades because they do not recognize Pristina’s authority.
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