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From January 1, 2025, a ban on mining will be introduced in 10 regions of Russia

From January 1, 2025, a ban on mining will be introduced in 10 regions of Russia

HappyCoinNewsHappyCoinNews2024/12/24 19:55
By:HappyCoinNews

The Russian Cabinet of Ministers has approved a list of regions where a ban on mining cryptocurrency The restrictions will be in effect for 6 years until March 15, 2031.

Digital asset mining will be prohibited in Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, the Donetsk and Lugansk People's Republics, and the Zaporizhia and Kherson regions. The restrictions apply to both pools and individual entrepreneurs.

The authorities also approved a seasonal ban on cryptocurrency mining in three regions during peak energy consumption. These are the Irkutsk Region, Buryatia, and the Zabaikalsky Krai.

In 2025, these restrictions will initially be in effect from January 1 to March 15, and in subsequent years will extend from November 15 to March 15.

The terms of restrictions on cryptocurrency mining are synchronized with the end of the transition period for the elimination of electricity subsidies in the regions. After the market liberalization, restrictions in this part may well be lifted, provided, of course, there is sufficient capacity, said Sergey Kolobanov, deputy director of the Center for Economy of Fuel and Energy Sectors of the CSR, in an interview with TASS.

Initially, Russian authorities planned to ban cryptocurrency mining in 13 regions, including the Irkutsk region, where the largest Russian mining companies are located. Thus, BitRiver placed the first and largest data processing center in Bratsk back in 2019.

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