Russia to ban crypto mining in Moscow and some other regions

Russia will ban cryptocurrency mining in Moscow, the Moscow region, and eight areas of the Kursk region from Aug. 15 through Dec. 31, 2032, according to Bits.media. The restrictions also cover residents engaged in related activities, including participation in mining pools, and apply to eight municipalities in the Kursk region as well as the city of Lgov. The decree was formally published after being signed by Russian Prime Minister Mikhail Mishustin. In April, the Moscow region’s energy ministry asked the central government to ban cryptocurrency mining. The region’s energy minister said power consumed by crypto mining in the Moscow region had exceeded 1 GW, while the activity was not having a positive impact on the local economy. Russia had already banned mining in multiple regions, including Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, and southern Irkutsk, starting Jan. 1, 2025.