MUSCAT: The ministry said it had observed cases in which cryptocurrency mining equipment was being sold or supplied to individuals and entities that had not obtained the licences, permits and approvals required to carry out such activities.
Under the ministry’s notice, sellers are prohibited from completing transactions involving cryptocurrency mining equipment unless the purchaser is legally authorised to conduct cryptocurrency mining activities.
Sellers must verify, before completing any sale or supply transaction, that the purchaser has obtained the required official licences, permits and approvals from the competent authorities. The verification must confirm the purchaser’s eligibility to undertake cryptocurrency mining activities.
The ministry warned that legal and administrative action will be taken against violators in accordance with the laws and regulations in force in Oman.