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Russian authorities are planning to ban crypto mining in specific regions. This includes some occupied territories in Ukraine. They are making these moves as winter approaches.
Deputy Prime Minister Alexander Novak is leading a government commission to implement this ban. The goal is to restrict crypto mining during the heating season. The ban will affect six regions in the North Caucasus and parts of occupied Ukraine. It will be in place from December 2024 through March 2031.
Additionally, the Zabaikalsky region in Siberia will also face a mining ban. This ban will last from December 2024 to mid-March of the following year. After that, annual restrictions will continue during the winter season until 2031.
This planned ban follows President Vladimir Putin signing new laws to regulate crypto mining. The Russian government has also approved draft amendments to tax laws concerning income and expenses from crypto transactions and mining, according to the news agency Interfax.
Earlier this month, the government set a power consumption limit of 6,000 kWh per month for unregistered individual miners. If miners exceed this limit, they must register as individual entrepreneurs to continue their activities.