Russia bans cryptocurrency mining in 10 regions until 2031: key details revealed

Russia has announced a major decision to regulate cryptocurrency mining by banning it in 10 regions until 2031. The restrictions, which will begin in January 2025, aim to balance energy use while prioritizing industrial demands. In addition, temporary Mining restrictions It will be implemented in three other areas during periods of peak energy consumption.

Areas affected by mining ban

The Russian government has listed regions such as Dagestan, Chechnya, Donetsk and Luhansk People’s Republics, among others, where cryptocurrency mining activities will be completely banned.

These constraints form part of a broader effort to manage energy resources efficiently while accommodating industrial requirements.

Meanwhile, in parts of Irkutsk, Buryatia and the Zabaikalsky region, mining will only be restricted during periods of high demand, such as January to March in 2025, and November to March in subsequent years.

Flexibility in restrictions

Officials indicated that the list of prohibited areas could change based on the recommendations of the government committee responsible for managing electric power. The primary goal of these measures is to ensure stable power supply to industries while controlling the stress on the power grid caused by cryptocurrency mining.

Mining is legal but highly regulated

This decision Follow Russia Move in November 2023 to legalize cryptocurrency mining. The framework requires miners to register with the Federal Tax Service, and provide detailed information about their assets and wallet addresses.

Individual miners are allowed to mine up to 6,000 kilowatt-hours per month, ensuring compliance with the country’s energy policies.

Balancing crypto innovation

By imposing these restrictions, Russia aims to process energy Industries needs while allowing regulated cryptocurrency mining. These measures highlight the government’s intention to responsibly integrate cryptocurrency activities into the economy, ensuring energy stability remains a priority.