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Gulf Insider
04-05-2025
- Business
- Gulf Insider
Kuwait Bans Cryptocurrency Mining
Kuwait has banned cryptocurrency mining as it looks to regulate the activity and cut down on overloads of electricity network. The Ministry of Interior warned against cryptocurrency mining practices by individuals and entities in Kuwait, which is unlicensed activity and a direct violation of the county's law, particularly: Law No. (31) of 1970 amending certain provisions of the Penal Code No. (16) of 1960 Law No. (37) of 2014 establishing the Communications and Information Technology Regulatory Authority (CITRA) Law No. (56) of 1996 related to the industry law Law No. (33) of 2016 concerning Kuwait Municipality The ministry stressed that cryptocurrency mining caused excessive electricity energy which resulted in increasing the load on public power network. Kuwait cryptocurrency mining ban It also causes power outages in residential. commercial and service areas, in a way which poses a threat to public safety and disrupts providing regular essential services. This warning came according to joint coordination between Ministry of Interior, Ministry of Electricity, Water and Renewable Energy, Public Authority of Communications and Information Technology, Public Authority for Industry and Kuwait Municipality. These efforts are a part of joint national initiative to combat these illegal activities and reduce its adverse effects on the electrical infrastructure. The Ministry of Interior urged violators to promptly rectify their stances, and in case of their failure to do so, they will be referred to competent authorities for further legal procedures, in accordance with applicable laws. The Ministry of Interior, represented by the Criminal Security Sector, conducted a security campaign last month, targeting several houses used for illegal cryptocurrency mining activities. The campaign resulted in the seizure of violated properties and confiscation of advanced equipment and devices used for cryptocurrency mining, in a clear violation of the law. Legal action has been taken against violated property owners in preparation to refer them to competent authorities. The Ministry emphasised its commitment to continuing its intensive security campaigns in collaboration with the relevant authorities to ensure the implementation of the laws. Source Arabian Business
Zawya
23-04-2025
- Zawya
Cryptocurrency mining in Kuwait is illegal
KUWAIT CITY - The Ministry of Interior (MoI) issued a warning on Tuesday regarding unauthorized cryptocurrency mining activities within Kuwait, stating that these activities are unlicensed and a direct violation of the country's laws. In a press statement from the General Department of Security Relations and Media, the ministry clarified that cryptocurrency mining violates several key laws, including Law No. (56) of 1996 related to the Industry Law, Law No. (31) of 1970 amending certain provisions of the Penal Code No. (16) of 1960, Law No. (37) of 2014 establishing the Communications and Information Technology Regulatory Authority (CITRA), and Law No. (33) of 2016 concerning the Kuwait Municipality. The ministry stressed that cryptocurrency mining leads to significant depletion of electrical energy, increasing the load on the public power network. This can result in power outages, affecting residential, commercial, and service areas, which poses a threat to public safety and disrupts the regular delivery of essential services. This warning follows joint efforts between the Ministry of Interior, the Ministry of Electricity, Water and Renewable Energy, the Communications and Information Technology Authority, the Public Authority for Industry, and Kuwait Municipality. These efforts are part of a coordinated national initiative to address these illegal practices and reduce their adverse effects on the country's electrical infrastructure. The Ministry of Interior urged violators to promptly rectify their activities, emphasizing that failure to comply will result in necessary legal actions. Violators will be referred to the appropriate investigative authorities for further action in accordance with applicable laws. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. ( arabtimes
Arab Times
22-04-2025
- Arab Times
MoI warns against cryptocurrency mining in Kuwait, calls it illegal
KUWAIT CITY, April 22: The Ministry of Interior (MoI) issued a warning on Tuesday regarding unauthorized cryptocurrency mining activities within Kuwait, stating that these activities are unlicensed and a direct violation of the country's laws. In a press statement from the General Department of Security Relations and Media, the ministry clarified that cryptocurrency mining violates several key laws, including Law No. (56) of 1996 related to the Industry Law, Law No. (31) of 1970 amending certain provisions of the Penal Code No. (16) of 1960, Law No. (37) of 2014 establishing the Communications and Information Technology Regulatory Authority (CITRA), and Law No. (33) of 2016 concerning the Kuwait Municipality. The ministry stressed that cryptocurrency mining leads to significant depletion of electrical energy, increasing the load on the public power network. This can result in power outages, affecting residential, commercial, and service areas, which poses a threat to public safety and disrupts the regular delivery of essential services. This warning follows joint efforts between the Ministry of Interior, the Ministry of Electricity, Water and Renewable Energy, the Communications and Information Technology Authority, the Public Authority for Industry, and Kuwait Municipality. These efforts are part of a coordinated national initiative to address these illegal practices and reduce their adverse effects on the country's electrical infrastructure. The Ministry of Interior urged violators to promptly rectify their activities, emphasizing that failure to comply will result in necessary legal actions. Violators will be referred to the appropriate investigative authorities for further action in accordance with applicable laws.
Arab Times
14-03-2025
- Politics
- Arab Times
Kuwait's Anti-Corruption Authority Refers Former Education Official For Prosecution
KUWAIT CITY, March 14: Anti Corruption Authority of Kuwait (Nazaha) announced that, following a thorough investigation and the collection of substantial evidence, a former high-ranking official from the Ministry of Education, along with other individuals, has been referred to the Public Prosecution. They are suspected of committing offenses under Law No. (1993/1) concerning the protection of public funds, as well as alleged forgery crimes as outlined in Article No. (257) of the Penal Code No. (16) of 1960. These offenses are classified as corruption crimes under Article No. (22) of Law No. (2) of 2016, which established the General Authority for Combating Corruption. Additionally, the case involves violations related to the disclosure of financial assets as stipulated by relevant provisions.
