On Nov. 9, the Laos government announced it would halt business activities, levy fines and potentially revoke licenses of companies that do not meet their commitments or show progress in cryptocurrency mining and trading agreements...
On Nov. 9, the Laos government announced it would halt business activities, levy fines and potentially revoke licenses of companies that do not meet their commitments or show progress in cryptocurrency mining and trading agreements in what is considered an inactive status.
A lack of progress
During the proceedings of the sixth ordinary session of the National Assembly’s ninth legislature, Siphandone acknowledged a lack of progress from the two companies. The delay in fee payments to the state was attributed to the sluggishness of certain entities, while numerous investors demonstrated noteworthy advancements, contributing significantly to the state budget.
Putting a pause on mining
In addition to the decreasing price of cryptocurrencies, other setbacks for mining became apparent with the country’s drought conditions.