Cryptocurrency

2024

Prime

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/russia-enforces-cryptocurrency-mining-limits" data-wpel-link="internal" rel="noopener noreferrer nofollow">Russia Enforces Cryptocurrency Mining Limits</a><br></p>
<p style="text-align: justify">In a significant move to conserve energy, the Russian government is preparing to impose restrictions on cryptocurrency mining in select regions this winter. The initiative, spearheaded by Deputy Prime Minister Alexander Novak, aims to decrease energy consumption from December 2024 until March 2031, as reported by the Moscow Times.</p>
<h2 style="text-align: justify" id="strong-which-areas-will-face-mining-bans-strong"><strong>Which Areas Will Face Mining Bans?</strong></h2>
<p style="text-align: justify">The proposed mining bans will target six regions in the North Caucasus as well as Russian-occupied areas of Ukraine. Furthermore, the Zabaykalski region in Siberia will also see similar prohibitions during the winter months. The government intends to allocate energy primarily for heating purposes, underscoring the urgency of the situation.</p>
<h2 style="text-align: justify" id="strong-what-energy-limits-have-been-set-strong"><strong>What Energy Limits Have Been Set?</strong></h2>
<p style="text-align: justify">In tandem with the mining bans, new regulations will impose a monthly energy cap of 6,000 kWh on unregistered individual miners. Those who exceed this limit will need to register as “individual entrepreneurs” to continue their operations legally. This aims to create a balance between mining activities and energy supply.</p>
<p style="text-align: justify">By instituting these restrictions, the Russian government is taking a proactive stance on energy management and cryptocurrency oversight. The key takeaways from this initiative include:</p>
<ul>
 <li>Energy conservation during winter months is prioritized.</li>
 <li>Specific regions will be designated for mining prohibitions.</li>
 <li>Individual miners face new energy consumption limits.</li>
 <li>Registration as an entrepreneur is required for exceeding limits.</li>
</ul>
<p style="text-align: justify">The overarching goal is to alleviate the strain that cryptocurrency mining places on energy resources while enhancing regulatory scrutiny within the industry.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/russia-enforces-cryptocurrency-mining-limits" data-wpel-link="internal" rel="noopener noreferrer nofollow">Russia Enforces Cryptocurrency Mining Limits</a></h5>

Russia Enforces Cryptocurrency Mining Limits

Table of Contents

BH NEWS

Other articles published on Nov 20, 2024

Following Bitcoin’s 115% Rise and Solana’s Climb: 5 Cryptos That Could Surge by 20,000% in 2024!

MoonPay breaks Solana transaction record twice in two days

Smithsonian to display IRS laptop that tracked Bitfinex’s 120K stolen Bitcoin

Chasing 10,000% Gains? NEIRO Whales Invest $400K In This $0.05 Altcoin Over Dogwifhat For Exponen...

The Next $1 Token? Dogen Surges as Dogecoin and Shiba Inu Struggle to Keep Up

Sky Launches USDS Stablecoin on Solana, Offers $500K in Rewards to Early Adopters

Join our free newsletter for daily crypto updates!