MOSCOW: The governmental commission on electricity development, which was held on November 18, greenlighted the ban on cryptocurrency mini...
MOSCOW: The governmental commission on electricity development, which was held on November 18, greenlighted the ban on cryptocurrency mining in several regions starting in December 2024, with the Moscow region not included in the list, Deputy Energy Minister Yevgeny Grabchak told reporters.
"Everything offered by the Energy Ministry was approved," he said, adding that the issue is about 13 regions named earlier, with the list not having been revised.
The office of Russian Deputy Prime Minister Alexander Novak told TASS earlier that the Energy Ministry saw it as prudent to ban the mining of digital currency in areas facing critical regulatory and fiscal parameters and regions with subsidized electricity prices during forecasted shortages. The government has the right to ban mining in certain regions or certain territories, the source in the office said, adding that the governmental commission makes decisions based on advice from the Energy Ministry and heads of regions.
Earlier reports said that the proposal would ban mining in a number of cities and regions in the Irkutsk Region, Buryatia and the Trans-Baikal Region from December 1, 2024 to March 15, 2025. After that it will cover peak demand periods in those regions, from November 15 to March 15, each year through 2031.
The ban may also be introduced in the Karachay-Circassian Region, the Kabardino-Balkaria Region, the North Ossetia-Alania Region, Ingushetia, Chechnya, Dagestan, the Kherson Region, the Zaporozhye Region, the Donetsk People’s Republic (DPR) and the Lugansk People’s Republic (LPR).
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