Malaysia Seizes $13M In Crypto Mining Equipment

While each country has its own opinion on cryptocurrencies, Malaysia is not very crypto-friendly. Malaysia, which has recently focused on its own CBDC studies, has declared war on illegal mining. So much so that Datuk Seri Abd Jalil Hassan, Head of the Bukit Aman Criminal Investigation Department (CID), reported that 570 investigative documents were opened in 2021 alone.

In addition, he announced that 528 people were arrested and approximately $13 million worth of mining equipment was confiscated.

Malaysia Keeps Its Position On Crypto Mining

While Malaysian politicians have not completely banned cryptocurrency mining, they do have strict laws regarding the use of force. Statistics as of August 2021 reveal that Malaysia accounts for around 3 percent of all global Bitcoin miners. This means it has placed it in the top ten mining destinations in the world.

On the other hand, according to the report of the country's local newspaper, Malay Mail, 26 people were arrested in illegal mining in 2022 and equipment worth approximately 301 thousand dollars was confiscated. From 2020 to 2021, there has been a staggering 4,200 percent increase in seized equipment.