The Russian government has banned crypto mining in ten regions for a period of six years, . Russia cited the industry’s high level of energy use as the main reason for the ban. Crypto is very power hungry, as mining operations already do.
This ban goes into effect on January 1 and continues until March 15, 2031. The Council of State Ministers also stated that additional restrictions may be necessary in some regions during periods of high energy demand. It can also go the other way. The ban may be temporarily lifted or changed in certain regions if a government commission assesses changes in energy demand and deems it necessary.
Cryptocurrency mining has been limited, as the country has had . Miners must register with the Department of Digital Development and power consumption limits are constantly monitored.
The country has banned the use of crypto currency, but allows cross-border payments. The latter is seen as an attempt by Russia to avoid sanctions.
Russia is not the only country to put the kibosh on crypto mining due to the industry’s dirty energy needs. Kosovo will save electricity during the energy crisis. Angola. The law of that country goes further and criminalizes crypto mining. Several European countries, have started to strictly control the industry due to lack of energy.
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