Russia bans crypto mining in 10 regions until 2031

The Russian government announced on Saturday a ban on cryptocurrency mining in 10 regions, effective January 1, 2025, through March 15, 2031.

Regions affected include Dagestan, Chechnya, and North Ossetia, as well as the Donetsk, Lugansk, Zaporozhye, and Kherson territories.

Mining will also face temporary restrictions during peak energy consumption in parts of Irkutsk, Buryatia, and Zabaikalsky.

The government stated the ban aims to balance energy consumption and support industrial needs. Mining was legalised in Russia in November, requiring miners to register with the Federal Tax Service and report assets and wallet addresses.

Individuals are allowed to mine up to 6,000 kWh of digital currency monthly. The list of restricted regions may be revised based on government energy policies.

Attribution: TASS

Subediting: Y.Yasser