Russia bans crypto mining in occupied Ukraine regions to tackle energy shortages during fall and winter.
The new law enforces stricter control on mining, allowing only registered entities and imposing regional restrictions.
Russia is tightening its rules on crypto mining after Deputy Prime Minister Alexander Novak recently declared a ban on areas under Russian occupation of Ukraine. This choice is part of a strategy to help minimize the projected energy shortages in the winter, according to Protos.
The prohibition covers six areas of the North Caucasus in Russia, where mining will be totally forbidden and other areas will be subject to partial restrictions all through the fall and winter. These steps seek to maintain supplies of electricity for home and basic needs under higher demand.
Six territories in Russia’s North Caucasus region will also face a flat-out ban on crypto mining activities until 2031 pic.twitter.com/yzb35dpBdq
— Protos (@Protos) November 20, 2024
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