President Maia Sandu said, “Moldova is going through the most serious energy crisis in its entire history...”
Moldova has prohibited cryptocurrency mining and the importation of its specialized equipment in an attempt to combat the worsening energy crisis in the country.
Moldova’s Commission for Emergency Situations issued the ban along with other necessary measures for immediate compliance.
According to the commission,
“Activities for the mining of crypto assets are prohibited, as well as the import of specialized equipment…, regardless of the location of the importing company.”
Moldova has been experiencing electricity shortages since Monday, October 24. Given the situation, Moldova's Commission for Emergency Situations (CES) decided to make this move.
The president of Moldova, Maia Sandu, had already encouraged the government to create a set of regulations that would force all state institutions to use less electricity.
According to Sandu,
“Moldova is going through the most serious energy crisis in its entire history. And it is up to all of us how we will survive the coming winter.”
Moldova did not only ban Bitcoin mining. They also implemented additional energy-saving measures to manage the situation. These include escalator closures during certain hours, the turning off of fountains, and architectural, decorative, and advertising lighting.
Moldova's energy shortage is attributed to Ukraine's inability to continue supplying 30% of the electricity it requires. Additionally, the European nation had been notified by Russia’s energy giant, Gazprom, that its gas flows would be further lowered as well as its power supplies from Transnistria.
