Kuwait declares cryptocurrency mining illegal amid power crisis crackdown

What just happened? Kuwait has declared cryptocurrency mining "illegal and unlicensed" as part of a broad crackdown to ease pressure on its strained power grid amid a worsening energy crisis. This firm stance contrasts sharply with neighboring Dubai, which continues to embrace the crypto sector, recently hosting a major international conference attended by prominent industry figures. Kuwait has launched a sweeping crackdown on cryptocurrency mining, blaming the activity for worsening a power crisis that has led to rolling blackouts across the country as temperatures soar and air conditioning demand surges. The Ministry of Interior announced last week that it had begun a "wide-ranging" security operation targeting homes suspected of hosting crypto mining rigs, which officials described as illegal. "These mining operations represent an unlawful misuse of electrical power … and may lead to outages impacting residential, commercial, and service areas, posing a direct risk to public safet ... Read full article.