Russia is banning crypto mining in several sectors, citing energy concerns

The Russian government has banned crypto mining in ten regions for six years, . Russia has said that energy use in factories is the main reason why the ban has been lifted. Crypto is energy intensive, as mining has always been .

This ban will come into effect on January 1 and will last until March 15, 2031. The country’s cabinet has also said that other restrictions may be needed in some areas during times of high demand for electricity. It can also go the other way. The ban can be temporarily lifted or changed in some areas if the government committee considers the improvement of energy efficiency and deems it necessary.

Cryptocurrency mining is just that as the world has been with a . Miners must register with the Ministry of Digital Development and the power consumption limits are constantly monitored.

The country banned the use of cryptocurrencies but they allow paying the limit. This result appears to be an attempt by Russia to avoid sanctions .

Russia is not the only country to put the kibosh on crypto mining because dirty companies want power. Kosovo to save electricity in case of power failure. Angola . The country’s law goes further and makes crypto mining a crime. Several European countries, they have started to strictly control the trade due to the lack of power.