Russia will ban cryptocurrency mining in the occupied territories of Ukraine

ChainCatcher news, according to Protos, Russian authorities have announced plans to ban cryptocurrency mining in the occupied territories of Ukraine. Russian Deputy Prime Minister Alexander Novak chaired a meeting attended by senior ministers, where they discussed the country's "difficult regime balance" and its impact on the power industry, which is facing supply and capacity shortages during the autumn and winter seasons.

Reports indicate that the Russian government plans to extend the proposed ban on cryptocurrency mining to the occupied territories of Ukraine, such as Donetsk, Luhansk, Zaporizhzhia, and Kherson regions.

Additionally, six other regions in the North Caucasus will face a complete ban on cryptocurrency mining activities until 2031. Irkutsk, parts of Buryatia, and the Transbaikal Territory will face partial mining bans during the autumn and winter seasons until 2031. Russia passed a law in July that legalizes cryptocurrency mining starting November 1, meaning there is only an 18-day gap between legalization and prohibition.