ChainCatcher news, reported by Protos, Russian authorities announced plans to ban cryptocurrency mining in occupied territories of Ukraine. Russian Deputy Prime Minister Alexander Novak chaired a meeting attended by senior ministers where they discussed the country's 'difficult power balance' and its impact on the electricity sector, which is facing supply and capacity shortages during the autumn and winter seasons.
According to reports, the Russian government plans to extend the proposed cryptocurrency mining ban to the occupied territories of Ukraine, such as Donetsk, Luhansk, Zaporizhia, and Kherson regions.
Six other regions in the North Caucasus of Russia will also face a complete ban on cryptocurrency mining activities until 2031. Irkutsk, parts of Buryatia, and the Transbaikal Territory will face partial mining bans during the autumn and winter seasons until 2031. Russia passed a law in July legalizing cryptocurrency mining, which means there is only an 18-day gap between legalization and prohibition.
