Kyrgyzstan seizes 2,000 cryptocurrency mining devices

Police officials in Kyrgyzstan seized thousands of cryptocurrency mining machines as part of a new attack on illegal cryptocurrency mining in the country. Researchers have also identified industrial companies that supply electricity to Bitcoin farms. Security service conducts operations against illegal mining in Kyrgyzstan The State National Security Committee (GKNB), the Kyrgyz organized crime organization, recently discovered and occupied a number of facilities engaged in illegal mining of cryptocurrencies. The special operation was carried out in the capital Bishkek and in the northernmost region of the country, Chuy. Sputnik Kyrgyzstan reported that GKNB reported that law enforcement officers seized about 2,000 cryptocurrency mining units during the attack on illegal mining activities. The preliminary procedure continues, the press service of the agency has been added. Ala-Too Square in Bishkek. The state commission said the cryptocurrency mining process has done "great damage" to the country's electricity grid. GKNB also discovered several large industrial companies supplying electricity to illegal crypto farms. Most of the addresses looted are in Bishkek, the capital of the Central Asian Republic. Some of the mining equipment was seized from industrial facilities in the Bishkek Free Economic Zone. The police are currently in the process of identifying all persons involved in the bribery scheme. Bishkek government takes action to regulate the crypto industry In August 2020, the Ministry of Economy passed a bill to regulate the taxation of bitcoin mining in Kyrgyzstan. The proposal imposes a 15% tax on the cost of electricity consumed to hit digital currencies. The law requires mining companies to apply for the registration required to operate legally in the country. Central Bank of the Kyrgyz Republic. in January

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