Russia has announced a six-year ban on cryptocurrency mining in several regions, effective from January 1, 2025, to March 15, 2031. The affected areas include Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, and the newly annexed territories of Donetsk, Lugansk, Zaporizhzhia, and Kherson. This move is aimed at addressing energy shortages, which have been exacerbated by crypto mining activities.
In addition to the full ban in these regions, seasonal restrictions will be imposed in three Siberian regionsโIrkutsk, Buryatia, and Zabaikalsky. Mining activities in these areas will be prohibited from January to mid-March in 2025, with the restricted period expanding from November to March in subsequent years.
The Russian government emphasizes that these measures are crucial to prevent power shortages and stabilize the energy grid. Both individual miners and mining pools in the affected areas will be impacted by the ban.
๐ฌ How do you think this ban will impact the global cryptocurrency mining landscape?
Source: financemagnates, CoinCodeCap, meduza
