Farmers in UAE Face Heavy Fines for Cryptocurrency Mining

Abu Dhabi authorities have warned that farmers found engaging in cryptocurrency mining will face fines of up to Dh10,000. The advisory from the Abu Dhabi Agriculture and Food Safety Authority (Adafsa) highlights that cryptocurrency mining, which involves using highly sophisticated computers that consume significant energy, is not allowed on farms. This practice is considered a misuse of farm resources and could lead to a sharp increase in electricity bills, according to Khaleejtimes.

Cryptocurrency mining involves verifying transactions and creating new coins in the blockchain. While blockchain activities are allowed in the UAE, they are subject to strict regulations. Adafsa’s advisory emphasizes the importance of using farms only for their intended agricultural purposes to avoid penalties.