Russia Proposes Restrictions On Cryptocurrency Mining In Energy-Short Regions

According to Odaily, the Russian Ministry of Energy has formally proposed a plan to limit cryptocurrency mining activities in specific regions facing energy shortages. An anonymous source revealed that these restrictions are set to be implemented starting December this year. The proposal is scheduled for review at a government committee meeting on November 18. The Ministry of Energy has justified the potential restrictions by highlighting the anticipated energy shortages in certain areas. The ministry explained that prohibiting cryptocurrency mining in regions with critical regulatory and financial parameters, as well as areas receiving electricity price subsidies, is a prudent measure during expected energy shortfall periods. This approach aims to ensure that energy resources are allocated efficiently and that essential services are not disrupted by the high energy demands of cryptocurrency mining.