Reported 4 days ago
Russia has introduced a ban on cryptocurrency mining in ten major regions, including Dagestan, North Ossetia, and Chechnya, effective January 1, 2025, and lasting until March 2031. The ban aims to address the high energy consumption associated with mining, which has previously led to electricity shortages in certain areas. While the new legislation requires miners to register with the finance ministry, it has also pushed some miners to operate illegally to evade these restrictions. This move comes amid ongoing tensions related to cryptocurrency use in the context of international sanctions due to the war in Ukraine.
Source: YAHOO