Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Russia Introduces Regional Bans and Seasonal Limits on Crypto Mining

Russia Introduces Regional Bans and Seasonal Limits on Crypto Mining

Cryptodnes2024/12/25 08:00
By:Cryptodnes

Starting in 2025, Russia will impose strict limitations on cryptocurrency mining, including a full ban in 10 regions and seasonal restrictions in others.

These measures , in effect until 2031, aim to address energy concerns and align with recent legislative updates.

Regions such as Dagestan, Chechnya, and the Donetsk and Lugansk territories will see mining operations completely prohibited. Meanwhile, Siberian areas like Irkutsk and Buryatia will face partial restrictions during winter months to manage electricity demand. Initially, these seasonal rules will apply from January to mid-March in 2025 but will extend to cover November through March in subsequent years.

The restrictions reflect a revision of earlier proposals, which had suggested broader bans, including in major mining hubs like Irkutsk. This region, known for its inexpensive energy and hosting large data centers such as BitRiver’s facility in Bratsk, remains a critical player in Russia’s mining industry.

READ MORE:
Global Economic Crash is Coming, Warns “Rich Dad, Poor Dad” Author

Despite the changes, the long-term impact on businesses in these areas remains uncertain, as key industry players have refrained from commenting publicly.

With these targeted measures, Russia seeks to regulate mining activity without entirely sidelining its role in the global cryptocurrency ecosystem.

SHARE: SHARES
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

OpenAI may re-enter robotics to potentially compete with Tesla’s Optimus

Share link:In this post: OpenAI is reportedly looking to integrate GPT models into robots as it explores humanoid robot development. After scrapping its robotics division in 2021, the AI firm is now re-entering the robotics space. OpenAI faces strong competition from Tesla’s Optimus and Boston Dynamics.

Cryptopolitan2024/12/25 19:11

India’s Finance Ministry Explores DeFi’s Impact

This paper identifies key vulnerabilities within the crypto ecosystem, including stablecoins and DeFi.

Cryptotimes2024/12/25 18:33