Oman cracks down on unlicensed crypto mining, warns equipment suppliers
Dubai: Oman has warned companies and individuals against selling or supplying cryptocurrency mining equipment to unlicensed operators, as authorities step up enforcement of regulations governing the sector. The Ministry of Commerce, Industry and Investment Promotion said it had detected cases in which cryptocurrency mining equipment was being sold or supplied to individuals and entities that had…
Oman has issued a stern warning to companies and individuals against supplying cryptocurrency mining equipment to unlicensed operators. The Ministry of Commerce, Industry and Investment Promotion has detected instances of equipment being sold or supplied to unlicensed individuals and entities. Under a notice, sellers are prohibited from completing transactions involving cryptocurrency mining equipment unless the buyer possesses the necessary legal authorisation.
Suppliers are required to verify the buyer's licensing status before finalising any sale. Failure to comply with these regulations could result in legal and administrative action.
Written by urgent.news from Gulf News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
