As part of its review of crypto mining policy, the Russian government has decided to suspend plans to expand the ban on this activity.
Reasons for Policy Change
Russian authorities have refrained from introducing new restrictions citing expected decreases in tax and energy revenues. This step was taken during a meeting of the government commission on electric power industry development.
Regional Consultations
During the meeting, requests from several regions seeking to halt mining operations due to electricity shortages were discussed. The commission declined to prohibit mining in regions such as the Republic of Khakassia.
Future of Crypto Mining Regulation
Despite restrictions, authorities are considering relocating miners to regions with surplus energy. They propose economic incentives for attracting regular operations to these areas.
The Russian government continues to seek a balance between regulating crypto mining and the need to attract investments in regions with excess energy resources.
