CryptoMediaClub
Friday, May 9, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

‘Some’ Russian Regions to Ban Crypto Mining as Crackdown Continues

31.10.2024
A A
0
119
VIEWS
ShareShare

Russia’s Energy Ministry says it will ban crypto mining in “some” regions, with crackdowns on “illegal” miners intensifying in Siberia.

Yevgeny Grabchak, the Deputy Minister of Energy, said that “state-level” bans were in the pipelines and would likely last “until 2030.”

“[Crypto] mining will soon be banned at the state level in some regions.”

Yevgeny Grabchak, Russian Deputy Minister of Energy

Russian Regions to ‘Ban Crypto Mining’

Per the news agency TASS, Grabchak explained that the ban was “due to a shortage of electricity” in these regions.

While the Deputy Minister did not say which regions the government has in mind, he suggested that the bans would focus on traditional mining hotspots.

The State Duma in session.
The State Duma in session. (Source: PravitelstvoRF/YouTube)

“For example, we already have places that are in energy deficits, such as the Far East, Southwest Siberia, and the South. We cannot give large capacities of power to anyone in the long term there until 2030.”

Yevgeny Grabchak, Russian Deputy Minister of Energy

Grabchak was speaking days ahead of the promulgation of a new crypto mining law. The act, Russia’s second mining-focused law, gives regions the power to issue temporary bans on miners.

Earlier this year, President Vladimir Putin gave his blessing to the crypto mining industry. But he also called for regions to have the power to force miners to turn off their rigs, claiming that some areas were experiencing power shortages.

However, the ministry’s new proposal will grant the central government – not regional governors – the right to issue local mining bans.

The news comes just days after Chita Online reported that the Governor of Irkutsk has asked the Russian Prime Minister Mikhail Mishustin to “completely ban” crypto mining in the Irkutsk Oblast, the Republic of Buryatia, and Transbaikalia.

Russian Prime Minister Mikhail Mishustin addresses parliament earlier this year.
Russian Prime Minister Mikhail Mishustin addresses parliament earlier this year. (Source: PravitelstvoRF/YouTube)

Crackdown Continues

In the meantime, Irkutsk law enforcers and power providers are continuing to crack down on “illegal” crypto miners operating in the region.

Kommersant reported that police have “detained a man in Malinovka” for “illegal cryptocurrency mining.”

Malinovka is a small village in the Irkutsk’s Cheremkhovskiy District. Officers said the man used an “illegal connection” to the grid at a private residence.

Crypto mining equipment seized during a raid in Siberia.
Crypto mining equipment seized during a raid in Siberia. (Source: Main Directorate of Ministry of Internal Affairs of Russia for Irkutsk Region)

Officers explained that the local power provider – the Irkutsk Electric Grid Company – had previously disconnected the house from the electricity grid.

The house’s resident, the power company said, had failed to pay their energy bills.

🔊 Chinese cars now account for over half of Russia’s auto market. Hear how Moscow is becoming more reliant on Beijing, on the week's episode of Reuters Econ World https://t.co/aTDeF0RQH3 pic.twitter.com/xTBzyNswq4

— Reuters (@Reuters) October 29, 2024

Which Regions Will Ban Crypto Mining?

However, police explained that in March this year, “a local resident” connected the house to the power grid “without permission.”

Police eventually raided the property in “early September,” and “found 25 [crypto] mining rigs and related equipment on the site.”

“The owner of the [crypto mining hardware] we seized told us that he had decided to make money this way.”

Irkutsk Oblast Police

Officers think the crypto miner had drained power worth around $18,520 from the grid.

The Bank for International Settlements is debating whether to shut down a pilot cross-border payments platform after Russia‘s President Vladimir Putin identified the underlying technology as a tool to circumvent sanctions https://t.co/q2GYYeFHMt

— Bloomberg Markets (@markets) October 28, 2024

Criminal Charges

A police spokesperson confirmed law enforcers had “opened a criminal case has been opened against the offender” for allegedly “caused property damage by deception or abuse of trust.”

The spokesperson said that this was a violation of Article 165 of the Russian Criminal Code.

Irkutsk is Russia’s de facto Bitcoin (BTC) mining capital. But in recent months, industrial miners have announced an intention to build new data centers away from Siberia and the Far East.

A similar crackdown also appears to be underway in Novosibirk, Siberia’s biggest city and the region’s administrative center.

The post ‘Some’ Russian Regions to Ban Crypto Mining as Crackdown Continues appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

Decoding Right now’s BTC Lengthy-Brief Ratio: A Balanced View of Bitcoin Futures Sentiment
All news

Learn how to observe the event of crypto tasks: The significance of roadmap and whitepaper updates

02.05.2025
0

On the planet of cryptocurrencies and blockchain applied sciences, one of many key areas for traders and market members is...

Read moreDetails
Обменник криптовалют Dmoney.cc Выгодные обмены, которым можно доверять

Обменник криптовалют Dmoney.cc Выгодные обмены, которым можно доверять

29.04.2025
Greatest Presales to Purchase Now – Are These Cash the Largest Submit-Crash Winners?

Greatest Presales to Purchase Now – Are These Cash the Largest Submit-Crash Winners?

14.03.2025
BlackRock Anticipated to File for Solana and XRP ETFs, Says ETF Retailer President

BlackRock Anticipated to File for Solana and XRP ETFs, Says ETF Retailer President

14.03.2025
Mastercard Drives Digital Cost Development in MENA Area

Mastercard Drives Digital Cost Development in MENA Area

14.03.2025
Load More
Next Post
Kraken Trims Workforce by 15%, Welcomes New Co-CEO

Kraken Trims Workforce by 15%, Welcomes New Co-CEO

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin Crash Wipes Out 18% Of Profitable Investors In 24 Hours

Bitcoin Crash Wipes Out 18% Of Profitable Investors In 24 Hours

9 months ago
US debt nears $35 trillion, Bitcoin key to surviving ‘catastrophic’ collapse – Voorhees

US debt nears $35 trillion, Bitcoin key to surviving ‘catastrophic’ collapse – Voorhees

10 months ago
Bitcoin Hits Two-Month Low; More Decline Likely?

Bitcoin Hits Two-Month Low; More Decline Likely?

2 years ago
Telegram Expands Web3 Functionality with TON

Telegram Expands Web3 Functionality with TON

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

BlackRock Anticipated to File for Solana and XRP ETFs, Says ETF Retailer President

Mastercard Drives Digital Cost Development in MENA Area

Bitcoin Worth Rebounds – However Is a Crash to $73K or a Rally to $90K Subsequent? 

Turkey Units Regulatory Requirements for Crypto Corporations

Cardano Value Testing KEY Help Degree – Large Crash Coming?

BlackRock’s BUIDL fund breaks $1 billion in tokenized RWAs, up 56% in a month

Trending

Decoding Right now’s BTC Lengthy-Brief Ratio: A Balanced View of Bitcoin Futures Sentiment
All news

Learn how to observe the event of crypto tasks: The significance of roadmap and whitepaper updates

02.05.2025
0

On the planet of cryptocurrencies and blockchain applied sciences, one of many key areas for traders and...

Обменник криптовалют Dmoney.cc Выгодные обмены, которым можно доверять

Обменник криптовалют Dmoney.cc Выгодные обмены, которым можно доверять

29.04.2025
Greatest Presales to Purchase Now – Are These Cash the Largest Submit-Crash Winners?

Greatest Presales to Purchase Now – Are These Cash the Largest Submit-Crash Winners?

14.03.2025
BlackRock Anticipated to File for Solana and XRP ETFs, Says ETF Retailer President

BlackRock Anticipated to File for Solana and XRP ETFs, Says ETF Retailer President

14.03.2025
Mastercard Drives Digital Cost Development in MENA Area

Mastercard Drives Digital Cost Development in MENA Area

14.03.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved