Mining is banned in 10 regions of Russia from January 1

On Wednesday, January 1, a complete ban on cryptocurrency mining went into effect in ten regions of Russia. A partial ban came into effect in three more regions.

The ban was introduced in Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, Donetsk People's Republic (DNR), Lugansk People's Republic (LNR), Zaporozhye and Kherson regions. The restrictions are in effect until March 15, 2031.

Also, in the Irkutsk region, Buryatia and Transbaikalia, a temporary ban on mining during periods of peak electricity consumption (from November 15 to March 15) was introduced.

The decree on the ban was adopted by the government on December 24.

Put on pause: Russia introduces a ban on mining in a number of regions

The restrictions will begin on January 1, 2025

Earlier, on December 6, Russian Deputy Prime Minister Alexander Novak said that changes in the legislation will allow, on the one hand, to legalize mining and receive additional income to the budget, and on the other hand, to limit such activities in case of power shortage in certain regions.

On October 25, Russian President Vladimir Putin signed the law on transferring control over digital currency mining to the Federal Tax Service (FTS). The authorities have agreed on the taxation of cryptocurrency transactions - the relevant document was approved by the government on November 11, Izvestia found out.