December 25, 2024
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Ukraine News Today

Russia has banned cryptocurrency mining in partially occupied Ukrainian regions

Russia fully controls only the Ukrainian Crimea, which has been occupied since 2014, and it has partially occupied four other regions”, — write: www.radiosvoboda.org

The Russian government has approved a list of regions and territories where cryptocurrency mining will be banned, the official TASS news agency reported on December 24 with reference to the decision of the Cabinet of Ministers.

The ban will be in effect from January 1, 2025 to March 15, 2031. It will extend to the Russian regions of the Caucasus, as well as four partially occupied regions of Ukraine – Donetsk, Luhansk, Zaporizhzhya and Kherson.

The government of the Russian Federation specified that the list of regions and territories is not final, it can be changed by the decision of the commission on the development of electric energy.

“The task of such restrictions is to maintain the balance of energy consumption, taking into account the requests of industry,” writes TASS with reference to the government.

In October 2024, the President of the Russian Federation, Vladimir Putin, signed the law on regulating the circulation of digital currency. The document, among other things, allows the Russian government to ban mining in certain regions. Putin said in July that cryptocurrency mining could cause power shortages in some regions.

Russia fully controls only the Ukrainian Crimea, which has been occupied since 2014. In the Kherson and Zaporizhzhia regions, Moscow does not have control over the regional centers and large parts of the territories, in the Donetsk region, the Russian Federation seeks to occupy the northern and western regions of the region, and in the Luhansk region it has not occupied several areas either.

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