The Russian cryptocurrency mining bill proposes to ban mining activities in "energy-scarce" areas

ChainCatcher news, the Russian cryptocurrency mining bill proposes to ban mining activities in "energy-scarce" areas, with the proposed bill expected to pass in August.

Representatives of the Russian cryptocurrency mining industry have not agreed to certain provisions of the cryptocurrency mining bill. The Industrial Mining Association (IMA) has sent several letters to the State Duma requesting the exclusion of these decisions. The organization believes this poses certain risks to the country's mining investors and represents a "violation of the balance between private and public interests." The association suggests that if this specific provision is ultimately adopted into law, the rules should outline the procedure for approving the ban and include compensation for investors affected by the decision.

The Russian Ministry of Energy considers this acceptable but leaves the decision to the State Duma. The possibility of determining a mining ban does not mean that a ban will be issued in the first place. One of the co-authors of the bill, Anton Gorelkin, stated, "The detailed conditions and framework for banning mining in specific regions should be determined through discussions involving industry representatives."