Kosovo bans Crypto Mining to Save Energy

Regulators all around the world are concerned about the energy used in crypto mining. Many countries have already banned crypto mining to save energy. Kosovo is the latest edition to the list of countries that have banned crypto mining. The Economy Minister of Balken state of Kosovo informed the public about this ban earlier this month. 

The country was forced to shut down its largest thermal power plant due to some technical issues in December 2021, after which the government had to import electricity from overseas. The government has also announced a 60-day state emergency to deal with the energy crisis in Europe. The whole continent is facing a surge in electricity prices due to the shortage of natural gas. 

Kosovo is not the first country to ban crypto mining as China and Iran have already banned crypto mining. Iran has placed a three months ban on crypto mining whereas China has banned crypto mining within its borders. It is believed that this ban led crypto miners to move to Europe and different parts of the USA.