The ban has yet to go into effect, but the news has caused quite a stir. The government's move is seen as an attempt to stop people from mining cryptocurrencies in the country.
The government has issued a circular stating that it will not allow anyone to mine or mine cryptocurrencies in Kuwait and will take all necessary measures to prevent it.
The circular was issued on Friday by the Ministry of Information and Communication Technology (ICT). The ban applies to anyone who wants to start a cryptocurrency mining-related business in Kuwait or provide related services such as cloud computing services, data centers, cryptocurrency generation and storage, storage and exchange platforms, and more.
ICT said all such activities are considered illegal unless approved by the Ministry of Finance or other competent authority under Kuwaiti law.