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Russia Bans Cryptocurrency Mining in 10 Regions, Including Dagestan and Chechnya, from January 1, 2025, Until March 15, 2031

Dec 24, 2024, 10:17 AM

The Russian government has approved a ban on cryptocurrency mining in ten regions, effective from January 1, 2025, until March 15, 2031. This decision aims to address energy consumption concerns, particularly in regions experiencing high demand. The affected areas include Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, and the self-proclaimed Donetsk and Luhansk People's Republics, as well as parts of Zaporizhia and Kherson. The ban follows the recent legalization of cryptocurrency mining in July 2024, highlighting the government's ongoing struggle to balance energy needs with industrial demands. Seasonal restrictions will also be implemented in major mining areas to prevent power outages.