Russia bans cryptocurrency mining in 10 regions for a period of 6 years

ChainCatcher news, according to a report by the Russian TASS agency, starting from January 1, 2025, 10 regions in Russia (Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, the Donetsk and Luhansk People's Republics, as well as Zaporizhzhia and Kherson regions) will impose a complete ban on cryptocurrency mining for a period of six years. The ban will last until March 15, 2031.

Russian lawmakers have also approved seasonal restrictions on cryptocurrency mining in major mining regions to prevent power outages. These restrictions are consistent with the Russian cryptocurrency mining law signed by the president in August and October 2024.