Russia Imposes Six-Year Crypto Mining Ban
According to a report by the TASS Russian News Agency, the Russian Government has imposed a six-year crypto mining ban in six regions. The affected regions include Dagestan, Chechnya, and the Donetsk and Lugansk People’s Republics, among others. In addition, temporary bans will apply to specific zones in Irkutsk and Zabaikalsky during peak energy consumption periods, particularly in winter months.
The Russian government asserts the restrictions aim to balance regional energy demands while addressing disparities in electricity pricing. Notably, experts highlight the interconnectedness of electricity shortages and pricing benefits in certain regions. Sergey Kolobanov, an energy sector expert, pointed out how low electricity costs in some areas are offset by higher costs for other consumers across Russia.