Thursday, January 27, 2022

Kosovo suspends crypto mining activities amid power shortages this winter.

The Takeaway:

The government of Kosovo suspended crypto mining activities in the country as part of measures to deal with power shortages this winter.

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The government of Kosovo has decided to suspend crypto mining activities in the country as part of measures to deal with power shortages this winter. The move has been proposed by a special parliamentary committee tasked with bridging the gap between electricity demand and supply. The executive power in Pristina has moved to stop the energy-intensive minting of digital coins in Kosovo, a partially recognized republic in Southeast Europe. 

 

Kosovo is facing electricity shortages during the cold winter months.

Local media reported that Kosovo is facing electricity shortages during the cold winter months. The halting of crypto mining operations was announced on Tuesday by Artane Rizvanolli, Kosovo’s minister of economy. According to her statement quoted by Gazeta Express, the decision was taken at the recommendation of the Technical Committee on “Emergency Measures for Energy Supply” set up by the nation’s legislature. The restrictions were agreed upon in the parliament of Kosovo last week, DTT Net reported.

 

Kosovo’s law enforcement institutions will help halt crypto mining activities. 

Kosovo has been experiencing power cuts amid increased demand for electricity during the cold winter months, and authorities are trying to find solutions that will mitigate the energy crisis. Minister Rizvanolli added that Kosovo’s law enforcement institutions would join the efforts to locate crypto mining facilities and halt the mining of digital currencies. “These actions are aimed at addressing potential unexpected or long term lack of electricity production capacities, capacities of transmission or distribution of energy in order to overcome the energy crisis without further burdening the citizens of the Republic of Kosovo,” she elaborated.

The government declared a 60-day state of emergency in December to deal with the power deficit, allocating funds for energy imports and imposing power cuts. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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