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Russia Bans Crypto Mining in Specific Regions for Six Years Starting 2025
Russia has recently banned all forms of cryptocurrency mining activities in specific regions for a period of six years, starting from 2025. This move comes as the country faces significant electricity shortages and payment difficulties, particularly in certain areas.
According to Abdulmuslimov, the prime minister of the southern Republic of Dagestan, the ban is not only aimed at addressing local electrical shortages but also to regulate electricity payment benefits offered in some regions. He emphasized that these new regulations must be taken seriously, as they will significantly impact the region’s economy and overall growth.
This development follows a recent report from Bitcoinist that Russian President Vladimir Putin had signed a law governing digital currency turnover. This legislation, which took effect on November 1, gives the government the power to ban mining activities in specific areas or regions, allowing them to determine the conditions under which these restrictions may be imposed.
Source: bitcoinist.com
