Russia is set to impose a ban on cryptocurrency mining in specific regions, including parts of occupied Ukraine, to mitigate power shortages during the winter season, according to the Moscow Times.
The initiative, led by Deputy Prime Minister Alexander Novak, aims to curtail mining activities during the heating season. The restrictions will span six regions in the North Caucasus and occupied Ukrainian territories, effective from December 2024 to March 2031.
Additionally, the Zabaikalsky region in Siberia will face annual winter mining bans, starting December 2024 through mid-March 2025, continuing each winter until 2031.
The announcement follows new legislation signed by President Vladimir Putin earlier this month to regulate crypto mining. The Russian government has also approved amendments to tax crypto-related income and expenditures, as reported by Interfax.
To further control power consumption, the government has introduced a 6,000 kWh monthly cap for unregistered individual miners. Miners exceeding this limit must register as individual entrepreneurs to continue operations.
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