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The production of cryptocurrencies will be banned throughout the territory of Kosovo, said the Minister of Economy in Kosovo, Artane Rizvanolli.
Through a post on her profile on the social network Facebook, Rizvanolli has announced that “based on the recommendations of this Technical Committee, last week I took the decision for Emergency Measures through which the production of cryptocurrencies throughout the territory of the Republic is prohibited. of Kosovo ”.
“Law enforcement institutions will stop the production of the activity in question with the support of all relevant institutions which will identify the locations of cryptocurrency production. “These obligations aim to address any sudden or long-term lack of energy production capacity, transmission or distribution capacity in order to overcome the energy crisis without further aggravating the citizens of the Republic of Kosovo,” wrote Rizvanolli.
For many years, misuse of electricity in the north of Mitrovica for the production of cryptocurrencies or digital currencies has been reported in Kosovo.
In the four Serb-majority municipalities of Leposavic, Zvecan, Zubin Potok and North Mitrovica, electricity has not been paid for by residents living there since the post-war period.
Devices that are for the production of cryptocurrencies are usually computers with graphics cards. Computers are connected to electricity and they consume electricity and perform the procedure known as “mining”.
According to industry experts, a device with five graphics cards costs about 100 to 150 euros per month of electricity.
Cryptocurrency is digital money, decentralized, based on “blockchain” technology (Albanian: blockchain).
Cryptocurrencies can be used to buy common goods and services, although many people invest in them, as well as in other assets, such as stocks or precious metals.
While cryptocurrency is a new and interesting type of asset, buying it can be risky, as you have to do considerable research to understand how each system works.
In an attempt to regulate this activity, the deputies of the Assembly of Kosovo have started the procedures for issuing a law on cryptocurrencies./ REL
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