Oman enforces ban on unlicensed crypto mining equipment sales

Sellers must verify buyers hold official licences before supplying mining hardware, as authorities tighten sector oversight.

Oman has issued a directive prohibiting the sale or supply of cryptocurrency mining equipment to unlicensed operators, as the Ministry of Commerce, Industry and Investment Promotion intensifies enforcement of regulations governing crypto mining activities. The move targets both companies and individuals, requiring them to ensure that buyers possess all necessary licences, permits, and approvals before completing any transaction involving mining hardware.

The ministry stated that it had identified cases where mining equipment was being sold to entities lacking the required authorisations to conduct cryptocurrency mining. Under the new notice, suppliers are now obligated to verify the legal status of purchasers and confirm their eligibility to undertake mining activities in Oman before proceeding with sales.

Failure to comply with these requirements could result in legal and administrative action under Omani law, the ministry warned. The enforcement effort is part of a broader regulatory push to ensure that all participants in the crypto mining sector operate within the established legal framework.

This development follows similar regulatory actions in other Gulf states, where authorities have also moved to curb unlicensed crypto activities. The ministry’s directive underscores the increasing scrutiny of digital asset mining in the region, as governments seek to balance innovation with compliance and sector stability.

Source: https://gulfnews.com/your-money/cryptocurrency/oman-cracks-down-on-unlicensed-crypto-mining-warns-equipment-suppliers-1.500673076