The Russian government took the measure of banning cryptocurrency mining in 10 regions until March 2031 as a result of the high consumption of electricity that the activity entails.

“The ban, which includes participation in a mining pool and temporary restrictions in other regions during periods of maximum demand,” came into effect on January 1 and will end on March 15, 2031.

This restriction measure applied by the Russian government also considers “interregional electricity subsidies that make consumption cheaper in some regions.”

The regions where the ban applies are Dagestan, North Ossetia and Chechnya, with the possibility of modification if there is a change in energy demand, corroborated by a government commission.

As will be recalled, Russia prohibits the use of digital assets as legal tender for payments at the domestic level. However, it allows cross-border payments with crypto as a way to evade sanctions imposed after starting the war against Ukraine.

M.Pino

Source: cripto247

(Reference image source: Michael Förtsch on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Russia bans cryptocurrency mining due to high energy consumption apareció primero en Bitfinance.