Russia bans cryptocurrency mining in 10 regions for a period of 6 years

News on December 24, according to Russia's TASS agency, from January 1, 2025, ten regions in Russia (Dagestan, Ingush Republic, Kabardino-Balkaria, Karachay-Cherkess Republic, North Ossetia-Alania , Chechnya , Donetsk and Lugansk People's Republics as well as Zaporizhzhia and Kherson Oblasts) will completely ban cryptocurrency mining for a period of six years.

This ban will last until March 15th of 2031. Russian legislators have also approved seasonal restrictions in major cryptocurrency mining areas to prevent power outages. These restrictions are consistent with the Russian Cryptocurrency Mining Law signed by the president in August and October of 2024.