The Russian government has banned crypto mining in ten regions for six years, . Russia cited high rates of industrial electricity consumption as the main reason for the ban. Crypto is increasingly power-hungry, as mining operations account for it .

This ban will begin on January 1 and last until March 15, 2031. The country’s Council of Ministers also stated that additional restrictions may be necessary in other regions during times of peak energy demand. It can also go the other way. The ban can be temporarily lifted or changed in some regions if a government commission examines changes in energy demand and is deemed necessary.

Cryptocurrency mining is just done as the country has a . Miners must register with the Ministry of Digital Development and energy consumption limits are constantly monitored.

The country has banned the use of cryptocurrencies but cross-border payments are allowed. The latter is considered an attempt by Russia to avoid sanctions .

Russia is not the only country to put the kibosh on crypto mining due to the industry’s obscene energy needs. Kosovo to save electricity during energy crisis. Angola . The law in that country goes a step further and criminalizes crypto mining. Many European countries, began to strictly regulate the industry due to energy shortages.