Russia Bans Cryptocurrency Mining in Irkutsk Oblast Until 2031

The Russian government has imposed a year-long ban on cryptocurrency mining in several districts of Irkutsk Oblast, known as the ‘mining capital’ of Russia due to its low energy costs. The restriction applies across nearly 20 districts in the southern part of the region and follows appeals from local officials to reduce strain on the electrical grid. This move comes after the Russian Prime Minister Mikhail Mishustin signed the ban into effect on April 7, with full enforcement lasting until March 15, 2031. While initially implemented during winter months, the ban now extends through all year due to increasing power demands from crypto mining operations.