region – DIGIT INFO

Hong Kong to Have Tight Crypto Regulations, Head of Monetary Authority Says

DIGIT — Wed, 10 May 2023 08:49:59 +0000

Companies attracted by the plan to turn Hong Kong into a hub for digital assets should expect strict regulations, the region has indicated. Authorities are preparing new licensing rules for service providers working with cryptocurrencies and guidelines for banks interacting with crypto firms. Crypto Hub Hong Kong Has No Intentions to Adopt ‘Light-Touch’ Regulations Hong […]

Go to Source

Binance Opens Regional Blockchain Hub in Georgia

DIGIT — Thu, 30 Mar 2023 10:05:05 +0000

Crypto exchange Binance has announced the opening of a blockchain hub in Georgia which will promote cryptocurrency adoption in the region. The move comes on the backdrop of a number of partnerships, initiatives, and events the company is involved in in the country. Digital Asset Exchange Binance Establishes ‘Web3 Outpost’ in Georgia Binance, the world’s […]

Go to Source

At Least 1,000 Lawsuits Filed Against Crypto Miners in Russia’s Irkutsk Region

DIGIT — Tue, 14 Feb 2023 05:45:02 +0000

Authorities in the Russian region of Irkutsk have so far filed 1,000 lawsuits against what they call “gray” miners, or people minting coins in their homes. In over half of these cases, courts have ordered the defendants to compensate the operators of the distribution networks. Hundreds of Crypto Miners Sued in Irkutsk for Extracting Digital […]

Go to Source

Manitoba Halts New Crypto Mining Projects Due to Expected High Energy Demand

DIGIT — Thu, 01 Dec 2022 06:30:27 +0000

Authorities in Manitoba are temporarily suspending the connection of new crypto mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it may face overwhelming energy demand. Manitoba Suspends New Crypto Mining Operations Citing Possible Increase in Electricity Usage The government of […]

Go to Source

War Spurs Crypto Activity in Russia and Ukraine, Chainalysis Reports

DIGIT — Sat, 15 Oct 2022 06:30:38 +0000

The deadly conflict that started with Russia’s assault on Ukraine has increased crypto-related activity in both countries, according to Chainalysis. Fiat inflation and sanctions pressure led to several spikes in transaction volumes this year, the blockchain forensics firm has found, while Eastern Europe as a whole sustained its role in the global crypto ecosystem. Russians […]

Go to Source

Electricity Consumption Spikes in Irkutsk as More Russians Start Mining Cryptocurrency

DIGIT — Mon, 07 Feb 2022 11:30:38 +0000

Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining. Planes with mining equipment from restricted China continue to land in the region, and cases of hardware theft have also increased significantly. Irkutsk Dealing With Rising Electricity Needs Amid Growing […]

Go to Source

Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power

DIGIT — Thu, 27 Jan 2022 07:00:10 +0000

The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in electricity consumption in the Russian region. The supplier accuses the miners of burning cheap household electricity in what is, in fact, a business activity. Power Utility Takes Crypto Miners to Court […]

Go to Source

Georgia Goes After Crypto Miners Using Subsidized Electricity in Historic Town

DIGIT — Thu, 13 Jan 2022 14:30:33 +0000

A record high consumption of electricity blamed on illegal crypto farms in northwestern Georgia has caught the attention of authorities in the capital Tbilisi. The central government and the local utility are taking on the issue of dealing with power shortages in the mountainous region of Svaneti. With Tourism Hit by Pandemic, People in Georgia […]

Go to Source

Power Utility Sues Russians Mining Cryptocurrency at Their Homes, Raises Electricity Rates

DIGIT — Sun, 12 Dec 2021 13:30:43 +0000

A Russian power utility has found a way to increase electricity prices for consumers mining cryptocurrency using household electricity. The regional distribution company has taken dozens of amateur miners to court and has already won some of the cases. Power Utility Goes After Crypto Miners Using Subsidized Electricity to Mint Digital Coins Irkutskenergosbyt, a power […]

Go to Source

China’s Hainan Province Ramps Up Crackdown on Crypto Mining Operations

DIGIT — Sun, 05 Dec 2021 13:30:12 +0000

The province of Hainan in South China has taken steps aimed at curbing crypto mining activities. Besides blacklisting the industry, local authorities are also introducing higher electricity rates for the mining enterprises that continue to operate in the region. Hainan to Ensure Crypto Miners Pay More for Power The ongoing crackdown on cryptocurrency mining in […]

Go to Source