Russia Issues 6-Year Ban on Crypto Mining in 10 Regions

BE[IN]CRYPTO2024-12-25

Russia expands crypto regulations with mining bans in 10 regions, effective January 2025, lasting until March 2031. Seasonal mining restrictions apply in other areas, aiming to balance energy demands ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2494043961?lang=en_US&edition=fundamental","thumbnail":"https://beincrypto.com/wp-content/uploads/2022/11/Cuba-Russia-Crypto-Sanctions-850x478.png","is_english":true,"pubTime":"2024-12-25 17:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2494043961","market":"us","top_or_hot":-1,"title":"Russia Issues 6-Year Ban on Crypto Mining in 10 Regions","media":"BE[IN]CRYPTO","content":"<div>\n<p>Russia expands crypto regulations with mining bans in 10 regions, effective January 2025, lasting until March 2031.\nSeasonal mining restrictions apply in other areas, aiming to balance energy demands ...</p>\n\n<a href=\"https://beincrypto.com/russia-ban-on-crypto-mining-in-10-regions/\">Source Link</a>\n\n</div>\n","source":"beincrypto_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Russia Issues 6-Year Ban on Crypto Mining in 10 Regions</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRussia Issues 6-Year Ban on Crypto Mining in 10 Regions\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-25 17:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/russia-ban-on-crypto-mining-in-10-regions/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Russia expands crypto regulations with mining bans in 10 regions, effective January 2025, lasting until March 2031.\nSeasonal mining restrictions apply in other areas, aiming to balance energy demands ...</p>\n\n<a href=\"https://beincrypto.com/russia-ban-on-crypto-mining-in-10-regions/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4594","symbol_name":"比特币ETF概念","start_time":0,"source_url":"https://beincrypto.com/russia-ban-on-crypto-mining-in-10-regions/","article_id":"2494043961","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2022/11/Cuba-Russia-Crypto-Sanctions-850x478.png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2494043961","pubTimestamp":1735117200,"columns":[],"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"Russia expands crypto regulations with mining bans in 10 regions, effective January 2025, lasting until March 2031.Seasonal mining restrictions apply in other areas, aiming to balance energy demands and maintain grid stability.Despite crypto legalization, Russia’s share of global Bitcoin hashrate fell from 11% in 2021 to 4.7%, showing limited sector growth.Russia is increasingly enacting more detailed regulations in the crypto sector. In August, President Vladimir Putin legalized crypto mining. Since then, the country has introduced new regulations to align crypto-mining activities with national energy demands.The recent additional regulations include both outright bans and seasonal restrictions, set to take effect early next year.Russian Government Approves List of Regions Banned from Crypto Mining. In some areas like Irkutsk, Buryatia, and the Trans-Baikal Territory, Russia will restrict mining activities instead of enforcing a total ban. These regions will pause mining operations fr","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4594":"比特币ETF概念","BK4588":"碎股","BK4211":"区域性银行","RF":"地区金融","BK4601":"加密货币现货ETF","BK4585":"ETF&股票定投概念"},"translate_title":"俄罗斯在10个地区发布为期6年的加密货币挖矿禁令","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RF":1},"content_text":"Russia expands crypto regulations with mining bans in 10 regions, effective January 2025, lasting until March 2031.\nSeasonal mining restrictions apply in other areas, aiming to balance energy demands and maintain grid stability.\nDespite crypto legalization, Russia’s share of global Bitcoin hashrate fell from 11% in 2021 to 4.7%, showing limited sector growth.\n\nRussia is increasingly enacting more detailed regulations in the crypto sector. In August, President Vladimir Putin legalized crypto mining. Since then, the country has introduced new regulations to align crypto-mining activities with national energy demands.\nThe recent additional regulations include both outright bans and seasonal restrictions, set to take effect early next year.\nRussian Government Approves List of Regions Banned from Crypto Mining\nTASS, Russia’s leading state news agency, reports that Russia plans a six-year ban on cryptocurrency mining from January 1, 2025, to March 15, 2031, in 10 regions. These regions include Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, Donetsk, Lugansk, Zaporizhzhia, and Kherson.\nIn some areas like Irkutsk, Buryatia, and the Trans-Baikal Territory, Russia will restrict mining activities instead of enforcing a total ban. These regions will pause mining operations from January 1 to March 15, 2025, and from November 15 to March 15 in subsequent years.\nTASS highlights that the government does not consider the list of banned and restricted regions permanent and may adjust it based on decisions from the legal committee managing energy sector development. The government aims to maintain a balanced energy consumption through these new regulations.\n\n“This is the so-called interregional cross-subsidization, where the low cost of electricity in regions with regulated contracts is effectively compensated by producers and consumers in other regions. After market liberalization in this area, the restrictions could potentially be lifted, provided, of course, there is sufficient capacity,” Sergei Kolobanov, Deputy Director of the Center for Economics of the Fuel and Energy Complex at the CSR, told TASS.\n\nAccording to data from Cambridge University, Bitcoin mining in Russia accounts for 4.7% of the global hashrate, down from 11% in August 2021. Meanwhile, miners in the United States hold the largest share of the global hashrate at 37.8%.\nShare of Global Hashrate (Monthly Average). Source: CCAF\nCambridge data also shows that the average monthly hashrate of Russian miners has dropped from 13.6 Eh/s to 8.7 Eh/s. Despite Russia’s legalization of mining, this has not stimulated significant growth in mining activities within the country.\nHowever, in 2024, the Russian government has shown a more open stance toward cryptocurrencies, including permitting cross-border cryptocurrency payments and preparing to launch state-backed cryptocurrency exchanges. Additionally, Russian lawmakers have proposed holding Bitcoin reserves to enhance financial stability.\n\n\n\n\n🎄Top crypto platforms | December 2024\n\n\n\nPhemex\nExplore\n                      \n\n\n\n\n\nBYDFi\nNo KYC \n                      \n\n\n\n\n\nMargex\nExplore\n                      \n\n\n\n\n\nBingX\nExplore\n                      \n\n\n\n\n\nСoinex\nExplore\n                      \n\n\n\n\n\n\n\n\n🎄Top crypto platforms | December 2024\n\n\nPhemex\n\n\n\n\n\n\n\n\nBYDFi\n\n\n\n\n\n\n\n\nMargex\n\n\n\n\n\n\n\n\nBingX\n\n\n\n\n\n\n\n\nСoinex","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2494043961"}