Russia to restrict crypto mining in some regions

the Russian Deputy Minister of Energy announced that due to ongoing energy shortages, Russia will limit cryptocurrency mining in specific regions, including areas with limited power resources such as the Far East, southwestern and southern Siberia. Power shortages may continue until 2030, making large-scale mining difficult to sustain.

Previously, Russian President Putin signed a law regulating the circulation of digital currencies, which will take effect on November 1. The law gives the Russian government the right to prohibit the mining of digital currencies in specific regions or individual territories, and to determine the procedures and cases for introducing such restrictions.