Infinite Block Launches Ethereum Staking Service for Corporations

The Russian authorities are in the process of bringing in a national registry for crypto mining equipment, with registration to be a mandatory requirement for all operators. That’s according to a report published by Russia’s state-owned news agency, Tass, on Feb. 3. The registry is being established by the country’s Ministry of Energy, with Yevgeny Grabchak, deputy minister of energy, heading up the project.Photo by Egor Filin on UnsplashThe measure is being introduced as part of a raft of amendments to existing mining regulations. The objective is to improve oversight relative to crypto mining activity within the Russian Federation.  Unauthorized mining has been a concern for the Russian authorities for some time. According to the TASS report on this development, the registry would make mining without equipment registration “impossible.” Late last year, a Russian government commission moved to ban crypto mining in specific regions of the country. Management of the power grid was understood to be the main motivating force. Crypto mining activity had caused power shortages in some areas.  A seasonal ban was implemented, running from December to mid-March, with the measure to be repeated each year until 2031. In August of last year, Russian President Vladimir Putin had signed into law legislation that recognized the legitimacy of crypto mining in Russia.  Illegal mining, particularly within these restricted regions, continues to be a concern for the authorities, prompting this latest measure. Additionally, the authorities plan on establishing clear criteria in order to define crypto mining and deal with gaps in current legislation which may be enabling illegal and unregistered operators to carry out such mining activity. According to a report last month by local news media outlet Prime, Russia saw a surge in demand for Bitcoin mining equipment in Q4 2024. Crypto equipment demand increased threefold in comparison with the same quarter in 2023. Addressing the need for a crypto equipment registry, the Russian government stated: “It is important to adapt the law ‘On Mining’ to the current situation, in particular, based on practical experience, to formulate clearer criteria for classifying activities specifically as the production of digital currency.” While efforts are being made to get a firmer grasp on unauthorized mining in areas that are being impacted by power shortages, work is also being done to use crypto mining as a mechanism to fully exploit surplus energy.  Last month, it was revealed that Russian state-owned power company Rosseti is evaluating Bitcoin mining as a means through which surplus energy can be utilized in low-demand regions. In a separate development, the TASS news agency also reported on Feb. 3 that crypto miners are now in a position to report their earnings via online accounts with Russia’s Federal Taxation Service (FNS). The TASS report stated: “A new function has appeared in the personal accounts of taxpayers. With the help of the online service, users can now send information about receiving digital currency to the tax authority.” The feature appears once the registered user submits an electronic signature. 

Blockchain-based digital payment network enterprise Ripple has announced that it has acquired in-principle approval of a financial services license from the Dubai Financial Services Authority (DFSA) in the United Arab Emirates (UAE). In a press release published on the firm’s website on Oct. 1, Ripple claimed that the approval “unlocks Ripple’s end-to-end payment services in the UAE, boosting Middle East operations.” The in-principle approval is a first step on the company’s path towards full approval. That eventuality will enable Ripple to offer cross-border payment services relative to fiat and digital assets, within the Dubai International Financial Center (DIFC) special economic zone.Photo by Moose Photos on PexelsExpanding Middle Eastern presenceThe company claims that pursuing the license is part of a broader strategy to expand its Middle Eastern presence. It follows on from the firm’s move in 2020 to establish its Middle Eastern headquarters in Dubai. Ripple claims that the licensing “significantly strengthens Ripple’s global footprint as a regulated entity and enables the introduction of seamless cross-border payment services, including Ripple Payments Direct (RPD), in the United Arab Emirates (UAE).” In moving from in-principle approval to full approval, Ripple will have further obligations to accomplish, such as securing office space within the DIFC special economic zone. The company had previously indicated its intention of establishing an office within the DIFC. Back in August, it emerged that Ripple had partnered with the DIFC Innovation Hub with a view towards promoting blockchain and digital asset innovation within the UAE. Regulatory clarity in the UAERipple is striving to become the first blockchain-enabled payment services provider licensed by the DFSA. Once licensed, the company plans to roll out its enterprise-grade digital asset infrastructure. Ripple’s XRP has been one of five digital assets approved by the DFSA such that investment funds are allowed to invest in it, although the regulator did indicate in June that it is moving towards expanding the list of recognized tokens. Mired in legal difficulties with local regulator the Securities and Exchange Commission (SEC) in its home market of the United States in recent years, the company signaled a change of strategy in 2023, indicating its interest in focusing more on international expansion. While speaking at an event in Dubai at the time, Ripple CEO Brad Garlinghouse said that Ripple was expanding in Dubai. Taking to X in relation to this latest milestone, Garlinghouse wrote that “regulatory clarity is what businesses want, and what consumers need,” adding that “the UAE understands that.” In the company’s press release, Garlinghouse referred to the “forward-thinking regulatory approach” being pursued in the UAE, which he believes is positioning the country “as a global leader in this new era of financial technology.” The UAE isn’t the only focus for the company’s international expansion. Ripple has established an office in Singapore which handles over 50% of the firm’s payment flows. On Oct. 1, U.S. investment bank Houlihan Lokey published a report in which it highlighted Ripple as an emerging competitor to the SWIFT cross-border payments system.  Although the company has had some success in navigating its way through litigation with the SEC in the U.S., it’s thought that the dispute may be prolonged further as some commentators have suggested that the SEC plans to appeal a recent court decision. 

The blockchain network underpinning Bitcoin, the world’s largest cryptocurrency, requires an energy volume comparable to the annual consumption of Thailand. According to Digiconomist’s Bitcoin Energy Consumption Index, the protocol utilized roughly 204.44 terawatt-hours (TWh) of electricity between Nov. 18, 2024, and Nov. 18, 2025.Photo by Fré Sonneveld on UnsplashFiscal losses drive Malaysian oversightAmid these intense energy demands, Malaysia’s primary electricity utility has recorded substantial financial impairments attributed to illicit activities. Tenaga Nasional Bhd (TNB) reported losses totaling 4.57 billion ringgit ($1.1 billion) from illegal crypto-mining operations over a five-year span. In a Nov. 19 report by The Edge Malaysia, the Ministry of Energy Transition and Water Transformation (Petra) disclosed these figures to parliament, specifying that the unauthorized mining occurred at 13,827 locations between 2020 and August of this year. To counter these infractions through regulatory channels, Petra has formed a special committee scheduled to convene before year-end. This body aims to recommend enhancements to the Electricity Supply Act, which currently delineates penalties based on the offender's classification. Domestic violators face fines ranging from 1,000 to 50,000 ringgit ($240 to $12,000), imprisonment of up to one year, or both. Penalties escalate for non-domestic entities, involving fines between 20,000 and one million ringgit ($480 to $240,000) and potential prison terms of up to five years. Despite these provisions regarding electricity theft, a specific legal code regulating the act of crypto mining remains absent, creating a jurisdictional void. International bans and grid reallocationStrategies to curtail electricity usage by crypto miners are becoming evident elsewhere in Southeast Asia as well. Laotian Deputy Energy Minister Chanthaboun Soukaloun told Reuters last month that the nation intends to suspend electricity supplies to crypto miners by early 2026. He cited the sector's minimal economic contribution and low job creation as primary factors. Consequently, the state plans to redirect power to high-priority sectors, including AI data centers, metals processing, and electric-vehicle manufacturing. Parallel restrictions are emerging globally. In October, the government of British Columbia enacted a permanent prohibition on new BC Hydro connections for crypto miners to safeguard the Canadian province’s energy reserves. Officials pointed to the industry’s "disproportionate energy consumption and limited economic benefit" as the rationale for the policy. The debate over thermal innovationConversely, some enterprises are exploring methods to capture thermal output from Bitcoin mining to heat residential and commercial properties. If viable, such repurposing could utilize the considerable thermal byproducts of mining. A K33 Research study cited by CNBC indicates the industry generates roughly 100 TWh of heat annually, a figure sufficient to warm the entirety of Finland. However, industry consensus on the feasibility of these applications remains elusive. Proponents suggest that mining infrastructure could be situated in proximity to heat consumers. Skeptics, however, contend that the reliance on application-specific integrated circuit (ASIC) chips makes this impractical, arguing that the technical difficulty of mining a block renders household participation unfeasible. Despite these differing views, the concept continues to attract attention as a potential avenue for innovation in energy distribution. As jurisdictions like Malaysia and British Columbia tighten regulatory oversight, the cryptocurrency sector faces mounting pressure to address its energy footprint. The divergence between government restrictions and industry-led efficiency proposals underscores the complex relationship between digital asset infrastructure and global energy resources. Given the shifting landscape of policy and technology, the outlook for sustainable large-scale crypto mining remains uncertain, as governments weigh energy demands against economic benefits and the industry searches for more efficient ways to operate.