It has been reported that law enforcement agencies in Kyrgyzstan have discovered an illegal cryptocurrency mining farm in the local free trade zone (FEZ).

The State Economic Crime Service, an anti-corruption service in the Kyrgyz Republic, has reportedly discovered a large mining company in the export processing zone of Bishkek. Kyrgyz authorities posted a video of the facility on YouTube on August 7.

And government officials are involved
During their searches at the site, local police officers found encrypted mining devices connected to electricity and the Internet. According to local news agency 24.kg, authorities have opened an investigation into miners’ assets and energy sources.

Members of local government organizations and FWZ executives are alleged to be involved in running and covering up an illegal digital currency mining facility.

FEZ Bishkek is located in the capital of the Kyrgyz Republic and is an area for establishing and expanding private business in the Kyrgyz Republic.

According to its website, FEZ Bishkek has been in business for over 20 years.

Kyrgyzstan is a popular site for global cryptocurrency mining companies
Kyrgyzstan is known for its cheap energy prices and has become a popular destination for global cryptocurrency mining companies. In 2019, local energy officials announced that the government cut 45 crypto mining companies from the grid because they were using more energy from three local regions combined. In July 2020, the Kyrgyz parliament considered a bill to tax and regulate cryptocurrency mining activities in an effort to increase state revenues from the emerging industry.

Source: CoinTelegraph

LEAVE A REPLY