News

Daily Raids on Crypto Farms as Abkhazia Intensifies Mining Crackdown

Coins Legend February 12, 2023 0

Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to

Regulation

Iranian Government Approves ‘Comprehensive and Detailed’ Crypto Regulations

Coins Legend September 1, 2022 0

The government of Iran has finalized a set of cryptocurrency regulations. A “comprehensive and detailed” law ratified by the administration provides a regulatory framework for cryptocurrency, including their authorized usage and crypto mining, a government official reportedly said. Iran Finalizes Crypto Regulations The Iranian government has evaluated all issues relating

Technology

Kosovo Renews Crypto Mining Ban Amid Rising Energy Prices

Coins Legend August 5, 2022 0

The government of Kosovo has adopted measures tailored to maintain energy supply in the coming months, including a ban on cryptocurrency mining. The move comes amid a sharp increase in import prices and the restrictions can be extended for up to six months. Authorities in Kosovo Reinstate Ban on Cryptocurrency Mining The executive power in […]

Mining

Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv

Coins Legend July 20, 2022 0

Ukraine’s main law enforcement agency has busted an illegal facility mining cryptocurrencies in the Kharkiv region. The operators of the crypto farm have been minting coins using large amounts of stolen electricity, threatening energy supply to critical infrastructure, the agency said. Illegal Mining Farm Discovered in War-Torn Kharkiv Region Officers from the Security

Regulation

Paraguayan Senate Approves Cryptocurrency Bill

Coins Legend July 17, 2022 0

The Paraguayan Senate has approved a bill that seeks to regulate cryptocurrencies and their operations in the country. The bill, which had already been submitted to the deputy chamber, was approved with some changes suggested, establishing clear definitions and tax exemptions for companies in the cryptocurrency and crypto mining sectors. Paraguayan Cryptocurrency Bill

Mining

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

Coins Legend July 4, 2022 0

The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the possible use of cryptocurrencies for payments, even if only internationally. Central Bank of Russia […]

News

Report: $4B in Bitcoin Mining Loans Are in Distress — JPMorgan Analyst Says Price Pressure Stems From Miner Sales

Coins Legend June 27, 2022 0

Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are […]

Mining

Hardware Worth $1.9 Million Stolen in Russia’s Crypto Mining Capital

Coins Legend June 25, 2022 0

Russian law enforcement is looking into the alleged theft of mining hardware valued at around $1.9 million. The powerful computing equipment disappeared from a crypto mining hotel in Irkutsk, the owners of which have been accused of large scale fraud. 100 Russians Lose Mining Machines Worth 100 Million Rubles Police in the Russian Irkutsk Oblast […]

Mining

Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

Coins Legend June 21, 2022 0

Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced. Legal Crypto Miners in Iran to Halt Operations Again Due to Electricity Shortages Authorized crypto mining […]

Technology

Kazakhstan Makes $1.5 Million From Crypto Mining Sector in Q1

Coins Legend June 1, 2022 0

The government of Kazakhstan has collected $1.5 million from crypto miners in the first quarter of this year, official data shows. The money comes from a fee charged on the electricity spent to mint digital currencies, which was introduced in January. Crypto Mining Increases Budget Revenues in Kazakhstan Kazakhstan has received 652 million tenge (almost […]