Authorities in Kosovo have cracked down on cryptocurrency mining in a predominantly Serb district in the north of the country, seizing 174 unregistered mining devices used to generate virtual currency. Kosovo has had trouble billing the Serb population in northern Kosovo for electrical consumption since it declared independence from Serbia 23 years ago, with unpaid electricity and water invoices in four Serb municipalities exceeding €300 million. The government of Kosovo has announced a temporary ban on crypto mining until the end of 2021 and has begun a crackdown on smuggled equipment in an effort to reduce unpaid power use. The action has the potential to increase tensions in the ethnically split Balkan state. The worldwide cryptocurrency mining market is projected to expand from $1.92 billion in 2022 to $7 billion by 2032.

(By Christian Encila)