Moldova bans crypto mining amid energy crisis

A state located in areas near the armed conflict in Ukraine has taken emergency measures to reduce energy consumption

The Moldovan government has decided to introduce a total ban on digital currency mining due to the energy crisis caused by the war in Ukraine. The move is part of the countermeasures taken to reduce the country's energy consumption with sharply shrinking supplies. Although the cryptocurrency mining industry is not an important item in Moldova's energy balance, miners have become the first victims of the restrictions imposed.

Moldova bans cryptocurrency mining

The government of a European state located in the immediate vicinity of the great military conflict in Ukraine has decided to take emergency measures to reduce electricity consumption in view of the ongoing crisis. One of the first targets has been the cryptocurrency mining industry, even though the sector is not a significant energy consumer in this country.

The ban on digital currency mining appeared in Moldova after its president, Maia Sandu, called on ministers to introduce immediate energy restrictions. As a result of the introduction of new legal regulations regarding the reduction of electricity consumption, cryptocurrency miners have become the first victims of recent government decisions.

In addition to mining crypto assets, the import of equipment necessary for these activities was also prohibited, and in addition, regardless of the location of the importing company. On Tuesday 25 October, the Moldovan Emergency Commission approved a number of countermeasures to deal with the rapidly growing energy crisis.

Energy shortage prevention measures

Among other measures to combat the recent crisis, the authorities in Chisinau recommended Moldovan citizens that they should use elevators in buildings less frequently - especially during rush hour. Decisions were also introduced to limit the lighting of commercial building facades and billboards throughout the country. Local governments were advised to limit street lighting.

Moldova's deputy prime minister, Andrei Spinu, had previously warned the Moldovan public about the expected shortages of electricity, which may continue due to the high intensity of the war in Ukraine. The politician blamed the Russian air strikes on Ukraine's electricity infrastructure and a significant reduction in natural gas supplies by the Russian company Gazprom.