Crypto currencies can be mined in Ukraine without a license

Crypto currencies can be mined in Ukraine without a license, according to the State Service of Special Communication and Information Protection, the regulator that oversees activities requiring licensing, Bitcoin.com reports. And no regulations are on the horizon, the newssite adds. As the price of Bitcoin wavers just above $6,100, electricity prices dictate mining locations. With each coin requiring 45 MW to produce, production in Germany costs $8,000 and in Italy $7,800. In Ukraine, production costs are about $3,400. The website writes: “Ukraine is offering miners decent conditions, including low electricity rates going down to ~$0.04 per kWh, depending on the category of users and no restrictive regulations.” Police in Ukraine have raided mining operations, largely for stealing large amounts of electricity at industrial rates.