Moldova Bans Cryptocurrency Mining Amid Energy Crisis

Moldova’s Commission for Emergency Situations has introduced a series of measures to conserve electricity during the crisis. One of the measures affects the cryptocurrency mining industry.

Earlier, Deputy Prime Minister Andrei Spînu warned of electricity shortages from October 24 due to Russia’s massive strikes on Ukraine’s energy infrastructure and reductions in supplies of Russian gas.

During the meeting on October 25, the commission approved measures to combat the energy crisis in the country. According to the resolution:

• Mining of cryptocurrencies and the import of the necessary equipment are banned.
• Citizens are advised not to use elevators (07:00 to 11:00 and 18:00 to 23:00).
• Administrators of commercial real estate should reduce lighting by 30%, switch off fountains, display windows, advertising boards and escalators, and lower the indoor temperature in buildings.
• Local authorities should study the possibility of reducing street-lighting brightness, etc.

Moldovan Prime Minister Natalia Gavrilița also urged citizens to conserve electricity to ease the load on the power grid.

In October, the European Commission warned of a possible suspension of mining in the EU should there be a need to \’flatten the load on electrical systems\’.

Prior to that, Eric Teden urged banning mining of Bitcoin and other cryptocurrencies using the Proof-of-Work algorithm.

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