Illegal Crypto Mining is Booming in the Republic of Abkhazia

[Goodcat49]

The republic still allows the import of crypto mining rigs despite the ban.

The Republic of Abkhazia is witnessing a surge in crypto mining activities despite crypto-related activities being illegal since 2018. Customs have reported that mining hardware worth over $589,000 has crossed the border over the past six months.

According to Nuzhnaya Gazeta, importing crypto mining rigs remains legally permissible. Importers are required to pay taxes equal to 1% of the hardware’s worth and a VAT of 10%.

The largely unrecognized state in the South Caucasus, which is considered by several countries as an “autonomous republic” of Georgia, states that they’ve earned over $84,100 in taxes just from crypto mining rig imports since the start of 2020.

https://cointelegraph.com/news/illegal-crypto-mining-is-booming-in-the-republic-of-abkhazia

[TomPluz]

When the government (or maybe some personalities in the gov't) are making money and there seems to be lax in implementing the law, then there is a big chance that it can be business as usual. I don't understand why the government is not making crypto mining so legal and make the location an attractive investment destination.