• Abu Dhabi has banned cryptocurrency mining on farms, citing misuse of agricultural land.
• Anybody violating Abu Dhabi's new laws will probably be topic to fines of as much as 10,000 dirhams.
• Venezuela has disconnected cryptocurrency mining machines from the facility grid and seized over 2,000 of them.

In a serious transfer to curb misuse of agricultural land and management extreme electrical energy consumption, the Abu Dhabi Agriculture and Meals Security Authority (Adafsa) has introduced a strict ban on cryptocurrency mining on farms. The announcement was made on Thursday, as seen by native media outlet Khaleej Occasions.

Crypto mining, the method of verifying transactions and minting new cryptocurrencies like Bitcoin, is understood to devour massive quantities of electrical energy as a result of it requires highly effective computer systems. In line with the report, Adafsa's determination comes amid considerations that the energy-hungry strategy of cryptocurrency mining may result in unsustainable spikes in electrical energy payments, placing farm operations in danger.

Officers have made it clear that farmers will not be outfitted to deal with the massive electrical energy calls for that include cryptocurrency mining, and the Adafsa advisory additional emphasizes that the farms are designated for agricultural use, and changing them to mining would undermine that authentic objective.

On the identical time, anybody violating the brand new laws may face heavy penalties, with fines of as much as 10,000 dirhams ($2,722.57).The measure is a component of a bigger effort to advertise sustainable vitality use and correct land administration throughout agricultural lands.

The UAE permits blockchain-related actions however enforces strict guidelines to make sure they’re carried out responsibly and inside the precise settings.

In a associated transfer, Venezuela's Ministry of Electrical energy has additionally taken a agency stance towards crypto mining, disconnecting them from the facility grid. The transfer is a part of a broader crackdown on crypto mining in Venezuela that has already seen over 2,000 mining machines seized and several other officers indicted.

Abu Dhabi and Venezuela's strict insurance policies replicate a rising development of regulators world wide taking steps to handle the environmental and infrastructure challenges posed by the rising cryptocurrency mining business.