Many Russian areas prohibit crypto mining

2025-02-05 07:45:43

(MENAFN) Starting January 1, 2025, the Russian government will impose restrictions on crypto mining in ten regions experiencing electricity shortages, with a ban lasting until March 15, 2031. The affected regions include several southern republics such as Dagestan, Ingushetia, Kabardino-Balkaria, and Chechnya, as well as Russia's new territories of Donetsk, Luhansk, Zaporozhye, and Kherson.

Additionally, temporary mining restrictions will be enforced during peak energy demand periods in regions like Irkutsk, Buryatia, and Transbaikal. The government may expand the list of restricted areas based on future energy demands.

The measures aim to balance energy consumption while prioritizing industrial needs. This decision is part of Russia's broader strategy to manage its energy resources more effectively. In October, Russia also passed legislation to regulate cryptocurrency mining, requiring miners to register with the Federal Tax Service and define the roles and responsibilities of participants in the mining industry.

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