Kuwaiti authorities are cracking down on illegal crypto mining, with over 60 individuals now under investigation, as part of a sweeping campaign to root out unlicensed operations.

The country’s Public Prosecution confirmed the investigations are ongoing and warned that more suspects could be identified in the coming weeks. The “security operation,” carried out last Friday, targeted residential properties across the country suspected of hosting mining rigs, according to local media.

The operation was coordinated by top officials, including Acting Prime Minister Sheikh Fahad Al-Yousef and Minister of Electricity Dr. Subaih Al-Mukhaizeem. The government said it aims to curb unauthorized power usage that has strained the national grid and led to blackouts in some areas.

The Ministry of Electricity has begun disconnecting power from mining-linked properties. Reconnection will only be permitted with clearance from the Ministry of Interior. Officials are also conducting follow-up sweeps in various neighborhoods.

Kuwait has enforced an “absolute ban on all virtual asset/cryptocurrency mining activities” under a directive from its anti-money laundering committee that was backed by regulators including the National Bank of Kuwait.

Morgan Stanley (MS) is planning to bring cryptocurrency trading to its E*Trade platform, marking the most serious move yet by a major U.S. bank to offer retail users direct access to cryptocurrencies.

The initiative, still in early stages, could debut next year. The bank, Bloomberg reports, is weighing partnerships with crypto-native firms to help build out the infrastructure for spot trading.

The effort would mark a notable expansion of the firm’s crypto offerings, which currently include exchange-traded funds (ETFs), options, and futures contracts tailored to its wealthier clients. Internal discussions reportedly picked up after Donald Trump’s return to the White House last year sparked regulatory rollbacks across the crypto space.

Depending on how Morgan Stanley brings crypto trading to E*Trade, the move could heighten competition for crypto-native exchanges like Coinbase and Kraken.

Other institutions are following suit. Charles Schwab has signaled its own interest in adding spot trading, while SoFi is weighing a major push into the cryptocurrency space after seeing a “fundamental shift” in its landscape in the U.S.