The Russian government has released a draft resolution banning or restricting local mining. The ban comes into effect on January 1, 2025 and lasts until March 15, 2031.
According to TASS, the mining ban will apply in Dagestan, Ingushetia, Chechnya, Kabardino-Balkaria and North Ossetia. The ban includes mining and participation in pools. The order has not yet come into force in the People’s Republics of Luhansk and Donetsk as well as in some places in Zaporizhzhia and Kherson.
The same restrictions also apply to certain locations in the Irkutsk region, Buryatia and Zabaikalsky region during peak load times. By 2025, this will come into effect between January 1st and March 15th. In subsequent years, the bans will come into force from November 15th to March 15th. This is a set of policies that control how much energy is used and distributes them evenly across different industries.
Experts believe that the crypto mining ban is due to energy shortages and the subsidized price at which bandwidth is available in some markets. Sergey Kolobanov, the Center for Strategic Research of this mechanism, has become one of the arguments to justify restrictions on interregional cross-subsidies that compensate for cheap energy in regulated regions. Kolobanov explains that the restriction is in line with the end of the transition period aimed at abolishing these benefits. It is expected that electricity privatization will one day eliminate the need for such bans.
The Cabinet of Ministers added that a similar list could be revised in light of proposals from an Electricity Commission, which is advising on what…
