Russia Bans Bitcoin and Cryptocurrencies for Six Years!

Russia, preparing for harsh winter conditions, will ban cryptocurrency mining in 10 regions from the new year to prevent power outages.

According to the local news agency TASS, the Russian government has approved the ban on cryptocurrency mining starting from next year and has announced the regions where the bans will be in effect.

Accordingly, cryptocurrency mining will be completely banned in ten Russian regions from January 1, 2025 for a period of six years. The ban is planned to be valid until March 15, 2031.

According to this, the Russian government has banned cryptocurrency mining in 10 regions, including Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, the Donetsk and Luhansk People's Republics, and the Zaporizhia and Kherson regions.

In addition, the Russian government also added that mining activities in some areas of Irkutsk, Buryatia, and the Trans-Baikal Region will be temporarily banned during periods of highest energy consumption.

According to this, temporary restrictions will be in effect from January 1 to March 15 in 2025, and in the following years, for a longer period between November 15 and March 15.

It is stated that Russia's recent mining restrictions are milder than the initially proposed restrictions in November.

Because the first proposal planned to ban cryptocurrency mining in 13 regions, including Irkutsk, an important mining region in Russia.