October 21, 2020

Abkhazia cancels the ban on crypto-business

The President of Abkhazia announced a measure to lift the current ban on cryptocurrency mining.

As reported by Finanz.ru, on Thursday Aclan Bzhania announced that the government of the country plans to introduce "optimal mechanism" for regulating the mining of cryptocurrencies, having canceled the current ban on the tolerance, and

Ha this week, the director for operational andTechnological management of the state-owned energy company

“Now we are working on identifying points whereMining farms are located, it will not be possible to hide anything ... The government is ready to stay, which will determine the optimal mechanisms for regulating ethnicity. We will not prohibit mining, the state will regulate this area. This will become the first stage in solving energy problems, ”Bzhania said.

The president added that "this is not a point," but even if there are appropriate measures, it will take up to six months to exit the crisis.

In July, in Abkhazia, we observed a splash of activity inin the area of ​​crypto mining, in spite of the fact that the activity associated with the crypto currency has been illegitimate since 2018. According to the customs, in the last six months the border of the country has crossed over the equipment for mining at a cost of more than $ 589,000.