Dozens of Chinese Nationals Arrested in Libya for Operating Illegal Crypto Mining Farm

Around 50 Chinese nationals have reportedly been apprehended by Libyan authorities following allegations of running a cryptocurrency mining facility within the city of Zliten, local reports detail. Cryptocurrency mining is strictly prohibited by law in Libya. Libyan law enforcement officials have disclosed that the mining operation, situated in an abandoned iron factory, was effectively dismantled.

Illegal Cryptocurrency Mining Operation Busted in Libya, 50 Chinese Nationals Arrested

The New Arab, on June paper spends a lot of time talking about the token, the system, the value delivered for the very purpose of trying to structure whatever regulation such that it draws on those principles so then a token can be placed within that,”

Power said, adding:

“It's trying to be tech agnostic. It's not trying to be token specific.”

Power said “it’s fair to assume” that cryptospecific legislation will appear sometime in 2024 — but that it ultimately depends on how it is received by Australia’s lawmakers.

Crypto assets that change their function and utility over time will likely be subject to review, according to Power.

23, 2023, published a report revealing the Libyan attorney general’s office’s announcement of the arrest of 50 Chinese nationals involved in crypto mining activities in Zliten. Siddiq Al-Sour, the attorney general (AG), shared visual evidence, including photographs and videos, showcasing the mining campus located in the eastern part of the Tripoli province. Furthermore, preceding the detention of the 50 Chinese individuals, ten individuals associated with the operation had already been arrested two days prior.