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Russia is imposing a comprehensive ban on Bitcoin mining.
Russia is imposing a comprehensive ban on Bitcoin mining.

24.12.2024 17:12

The Russian government has approved comprehensive regulations on Bitcoin mining. Starting from January 1, 2025, a complete ban will be implemented on Bitcoin and cryptocurrency mining in 10 regions, while seasonal restrictions will be imposed in significant mining centers such as Irkutsk. This regulation will remain in effect until 2031.

The cryptocurrency mining policy of Russia has gained clarity. The initial complete ban proposed in 13 regions has been replaced by a more balanced regulation. Particularly, the seasonal restrictions in regions where large mining companies like BitRiver operate are significant for the future of the industry.

RUSSIA HAS DECIDED ON REGIONAL BAN IN CRYPTO MINING

The new Bitcoin mining regulation by the Russian government includes comprehensive changes. Mining activities will be completely banned in 10 regions, including Dagestan, Ingushetia, Kabardino-Balkaria, and Chechnya. This ban covers both individual miners and mining pools.

In the Irkutsk, Buryatia, and Zabaikalsky regions, a different approach will be adopted. In these regions, restrictions will be applied between January 1 - March 15 in 2025, and in subsequent years, from November 15 - March 15.

Particularly, the regulation in the Irkutsk region is critically important for the industry. BitRiver's first and largest data center, which started operations in Bratsk in 2019, is located in this region. The company has not yet made a statement regarding the impact of the new regulations on its operations.


 
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