Kuwait bans cryptocurrency mining

By: arabianbusiness|2025/05/04 19:30:01
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Kuwait has banned cryptocurrency mining as it looks to regulate the activity and cut down on overloads of electricity network. The Ministry of Interior warned against cryptocurrency mining practices by individuals and entities in Kuwait , which is unlicensed activity and a direct violation of the county’s law, particularly: Law No. (31) of 1970 amending certain provisions of the Penal Code No. (16) of 1960 Law No. (37) of 2014 establishing the Communications and Information Technology Regulatory Authority (CITRA) Law No. (56) of 1996 related to the industry law Law No. (33) of 2016 concerning Kuwait Municipality The ministry stressed that cryptocurrency mining caused excessive electricity energy which resulted in increasing the load on public power network. Kuwait cryptocurrency mining ban It also causes power outages in residential. commercial and service areas, in a way which poses a threat to public safety and disrupts providing regular essential services. This warning came according to joint coordination between Ministry of Interior, Ministry of Electricity, Water and Renewable Energy, Public Authority of Communications and Information Technology, Public Authority for Industry and Kuwait Municipality. These efforts are a part of joint national initiative to combat these illegal activities and reduce its adverse effects on the electrical infrastructure. The Ministry of Interior urged violators to promptly rectify their stances, and in case of their failure to do so, they will be referred to competent authorities for further legal procedures, in accordance with applicable laws. The Ministry of Interior, represented by the Criminal Security Sector, conducted a security campaign last month, targeting several houses used for illegal cryptocurrency mining activities. The campaign resulted in the seizure of violated properties and confiscation of advanced equipment and devices used for cryptocurrency mining, in a clear violation of the law. Legal action has been taken against violated property owners in preparation to refer them to competent authorities. The Ministry emphasised its commitment to continuing its intensive security campaigns in collaboration with the relevant authorities to ensure the implementation of the laws. Follow us on For all the latest business news from the UAE and Gulf countries, follow us on Twitter and LinkedIn , like us on Facebook and subscribe to our YouTube page, which is updated daily.

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WEEX P2P update: Country/region restrictions for ad posting

To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.

 

I. Overview

When publishing P2P ads, advertisers can now set the following:

Allow only counterparties from selected countries or regions to trade with your ads.

With this feature, you can:

Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.

 

II. Applicable scenarios

The following are some common scenarios:

Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.

 

III. How to get started

On the ad posting page, find "Trading requirements":

Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.

 

When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:

If you encounter this issue when placing an order as a regular user, try the following solutions.

Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.

 

IV. Benefits

Compared with ads without country/region restrictions, this feature provides the following improvements.

Aspect

Improvement

Trading security

Reduces abnormal orders and fraud risk

Conversion efficiency

Matches ads with more relevant users

Order completion rate

Reduces failures caused by incompatible payment methods

V. FAQ

Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.

 

Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.

 

Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.

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