Russian authorities have announced plans to ban cryptocurrency mining in certain areas to prevent power outages during the winter season.
Plans for Cryptocurrency Mining Ban
According to the plan, chaired by Deputy Prime Minister Alexander Novak, crypto mining will be banned in several regions from December 2024 to March 2031. This measure aims to prevent energy supply disruptions during the winter season.
Regions Affected by Ban
The restrictions will apply to six regions in the North Caucasus and the occupied territories of Ukraine. In the Zabaikalsky region, crypto mining will be banned from December 2024 until mid-March the following year, with annual winter restrictions until 2031.
Legislative Changes
The decision to implement the ban on cryptocurrency mining follows the signing of new laws regulating the practice by Russian President Vladimir Putin earlier this month.
These measures underscore the Russian authorities' efforts to control cryptocurrency mining and prevent potential power supply issues in the future.
