Law on full mining ban being prepared in Abkhazia

On Monday, December 16, the Parliament of Abkhazia approved in the first reading drafts of laws for a complete ban on mining in the Republic and criminal liability for this type of activity. This was reported by TASS.

The documents aim to ensure the rational use of limited energy resources in the region. The first draft law prohibits the extraction of cryptocurrencies, as well as the circulation, use, advertisement, and import of relevant equipment or its components into Abkhazia. If the law is adopted, these restrictions will apply not only to individuals but also to legal entities and individual entrepreneurs.

As for the second draft law, it outlines penalties for circumventing the restrictions. Importing mining devices, connecting to networks, and consuming electricity over 30 kWh for cryptocurrency mining will be punishable by imprisonment for a term of one to three years, along with the confiscation of equipment. The fines vary based on the number of confiscated miners: up to five units — 50,000 rubles, more than five — 20,000 rubles for each device.

Previously, the authorities of Abkhazia decided to disconnect the internet to combat cryptocurrency mining.