Russia imposes a partial ban on cryptocurrency mining to control energy use, TASS reports

The Russian government imposed a Six-year ban on cryptocurrency mining TASS reported that the company is in 10 regions due to high energy consumption in industry.

The ban, which includes participation in the mining pool and temporary restrictions in other areas during periods of peak demand, comes into force on January 1 and ends on March 15, 2031, TASS said, citing a Cabinet decision.

Country Legal crypto mining In July, with the law taking effect last month. Russia bans the use of cryptocurrencies as legal tender for regular payments internally, but allows cross-border payments using cryptocurrencies in a Trying to evade sanctions It was imposed after its invasion of Ukraine.

Areas affected by the ban include Dagestan, North Ossetia and Chechnya, and it could be changed depending on a government committee studying changes in energy demand.

The ban also takes into account regional electricity subsidies that make energy use cheaper in some areas.