Moldova bans crypto mining amid energy crisis

2022/10/27 09:03

Moldova has banned crypto mining activities and the importation of its equipment because of the growing energy crisis, EPrimeFeed reported Oct. 26.

According to the report, Moldova’s Commission for Emergency Situations (CES) decided to embrace this measure in light of the energy crisis that has engulfed the region. Reports revealed that Moldovan President Maia Sandu ordered government agencies to save electricity and also assess the impact of the soaring energy cost on citizens.

Besides banning crypto mining activities, the authorities also introduced other electricity-saving measures like shutting down escalators within dedicated hours and turning off fountains and advertising, decorative, and architectural lighting.

Moldova is currently facing an energy crunch due to Ukraine’s inability to continue exporting 30% of the electricity it needs. Apart from that, Russia-owned Gazprom had informed the European country that its gas flows would be further reduced, and so will its electricity supplies from Transnistria.

bullishbullishbullish3bearishbearishbearishBearishLikeShare
Disclaimer:The content above does not represent HTX's positions.,HTX does not provide any trading recommendations.。

Related Articles

  • Image

    Ethereum Whales Dump 500,000 ETH In 48 Hours: On-Chain Data

  • Image

    Bitcoin Indicator Signals Momentum Building – Capital Inflows Surge 350% In 2 Weeks

  • Image

    Ethereum Monthly RSI At 2018 Market Low — What Happened Last Time?

All Comments0LatestHot

LatestHot
noContent

No records

Related Articles

  • Image

    Ethereum Whales Dump 500,000 ETH In 48 Hours: On-Chain Data

  • Image

    Bitcoin Indicator Signals Momentum Building – Capital Inflows Surge 350% In 2 Weeks

  • Image

    Ethereum Monthly RSI At 2018 Market Low — What Happened Last Time?