Legal and economic experts call for regulation of cryptocurrency mining in Kuwait

At a symposium titled “The Future of the Digital Economy in Kuwait: Between Investment and Legislation,” economists and legal professionals stressed the importance of legalizing and regulating cryptocurrency mining to ensure the state’s rights and harness economic benefits.

The event was co-hosted by the Economic Platform, Kuwait Economic Society, Kuwait Lawyers Association, and the Chairman’s Club, reports Al-Jarida daily.

The following are the key points:

• Regulation Needed: Experts called for the establishment of a clear legal framework for crypto mining, including licensing, electricity usage controls, taxation, and oversight to prevent illegal or random mining.
• Economic Potential: Mining farms can drive economic diversification, job creation, and foreign investment. Several speakers emphasized that blockchain and digital currencies are foundational to modern economic growth.
• Digital Economy as a Necessity: Muhannad Yousef Abdulrahman described the digital economy as essential for sustainability and national progress, not a luxury.
• Mining and Strategy: Former Minister Abdullah Al-Jouan urged that crypto mining should be part of Kuwait’s national economic strategy, encouraging integration with support services and knowledge-based sectors.
• Infrastructure & Education: Economist Amer Al-Tamimi pointed out the need to improve infrastructure and vocational education to support the digital shift, noting that while banking has advanced digitally, other sectors lag behind.
• Legal Clarity Required: Dr. Nawaf Al-Shariaan stressed that, currently, crypto mining is not a crime under Kuwaiti law due to the lack of explicit criminalization. He advocated for clear regulations, legal definitions, and the creation of economic courts to protect investments.
• Current Legal Gaps: Dr. Mohammad Bouzbar explained that no official licenses for mining exist in Kuwait. He proposed a law defining crypto assets, a regulatory authority for digital assets, and expanding the Anti-Money Laundering Law to include crypto.

  There is strong consensus among experts that Kuwait must move quickly to regulate cryptocurrency mining within a legal and economic framework that supports innovation while safeguarding public interest, energy resources, and monetary stability.