Russia Bans Cryptocurrency Mining for 6 Years

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The Russian government has approved a list of regions and territories where cryptocurrency mining will be prohibited next year. According to TASS news agency, starting from January 1, 2025, crypto mining will be banned for a period of six years in 10 Russian regions, until March 15, 2031.

This ban is in accordance with the cryptocurrency mining laws that were signed by the president in August and October 2024. In order to prevent energy shortages, seasonal restrictions will also be implemented in key cryptocurrency mining regions.

Specifically, the restrictions will be in effect in regions such as Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, the Donetsk and Lugansk People’s Republics, as well as the Zaporizhzhia and Kherson regions. It has been reported that the ban will apply to both mining pools and individual crypto mining activities.

In addition to the bans, three Siberian regions will also have limited mining operations during peak energy consumption in the winter months.