Russian authorities plan to prohibit crypto mining in occupied Ukrainian territories, marking a new regulatory step as the conflict surpasses 1,000 days.

Russian’s Deputy Prime Minister Alexander Novak convened a meeting with senior officials to address the country’s strained electricity supply during the peak autumn and winter seasons. The focus included the energy challenges driven by crypto mining, particularly in regions with limited power capacity.

Russia’s Crypto Mining Restrictions Can Last Till 2031

According to reports from the Moscow Times, the proposed ban will cover territories under Russian control, including Donetsk, Lugansk, Zaporizhia, and Kherson. The government aims to curb mining activities in these areas, citing the impact on local electricity grids.

In the North Caucasus and occupied regions of Ukraine, a full ban on mining will take effect starting December 2024. 

Also, crypto mining in Siberia will be suspended from December 1 to March 15, 2025. Similar restrictions will apply annually from November 15 to March 15 until 2031. 

“Starting Dec 2024, Russia’s Energy Ministry is clamping down on mining rigs in energy-stressed zones like Irkutsk, Chechnya, and DPR. The takeaway’s clear: energy ≠ infinite, and miners might need to get stealthy or pivot,” Maria Nawfal wrote on X (formerly Twitter). 

Putin’s government has been considering several changes to Russia’s crypto regulations in the past few months. The new law allows direct regulation of mining pools, while support for using cr

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Author: Mohammad Shahid