Russia Considers Further Cryptocurrency Mining Bans, Proposing Alternatives

The Russian Energy Ministry is considering expanding its ban on cryptocurrency mining to three more regions: Karelia, Penza Oblast, and Khakassia, citing strain on electricity grids. While this proposal has sparked debate, some industrial miners advocate for alternatives like increased tariffs and taxes as a better solution than outright bans. This follows previous restrictions implemented in Russia, which included a year-round ban in the southern part of Irkutsk Oblast until 2031 and the prohibition on mining during winter in ten regions. Industrial miners propose differentiated electricity tariffs and partial capacity relinquishment by miners as more effective alternatives to complete bans.