The Russian government is taking steps to address potential energy shortages by banning cryptocurrency mining in certain regions, including parts of Ukraine that are occupied by Russia, according to the Moscow Times.
The ban will take effect during the winter season from December 2024 to March 2031 and will cover six regions of the North Caucasus, as well as the Zabaikalsky region in Siberia.
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Russian Deputy Prime Minister Alexander Novak heads the government commission tasked with implementing the ban, following new laws signed by President Vladimir Putin to regulate cryptocurrency mining.
The government is also considering additional measures, such as imposing taxes on crypto transactions and mining, in order to further regulate the industry.