Tajikistan is taking a firm stance against illegal cryptocurrency mining as it grapples with power shortages. According to the conclusions drawn in the analytical report, the government has approved new legislative amendments aimed at penalizing miners who unlawfully consume electricity for their operations.
New Measures Against Electricity Theft
The newly introduced measures will impose hefty fines ranging from 15,000 to 75,000 somoni, alongside potential prison sentences of up to eight years for those found guilty of large-scale electricity theft. This crackdown is part of a broader effort to address the ongoing electricity crisis in the country.
Impact on Illegal Mining Activities
Officials believe that these stringent penalties will deter illegal mining activities, which have been a significant drain on the national power supply. By targeting unauthorized electricity consumption, the government aims to safeguard its resources and mitigate financial losses associated with electricity theft.
In light of Tajikistan's crackdown on illegal cryptocurrency mining, investor Michael Burry has recently criticized Bitcoin, comparing it to the tulip mania. For more details, see read more.
