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African Cryptocurrency Mining Firms Are Being Denied Insurance

Ramsey Baker

Summary: Insurance firms in Africa are denying to insure the computer equipment that cryptocurrency mining firms use, according to TheNextWeb. Old Mutual the pan-African insurance firm stated they are refusing to insure these companies because of the unregulated nature of the cryptocurrency industry and due its affiliation with cybercrime. This is tough for the cryptocurrency industry ...

Insurance firms in Africa are denying to insure the computer equipment that cryptocurrency mining firms use, according to TheNextWeb. Old Mutual the pan-African insurance firm stated they are refusing to insure these companies because of the unregulated nature of the cryptocurrency industry and due its affiliation with cybercrime. This is tough for the cryptocurrency industry in Africa, because of the 24 hour nature of the business their equipment is prone to overheating.

Author: Ramsey Baker

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