According to Russian officials preparing for legalization, cryptocurrency mining should be allowed in areas of energy excess and banned in areas of energy shortage. Cryptocurrency industry experts recently marked areas where Moscow is likely to allow mining and areas where digital currency extraction is likely to be banned.
Experts list Russia’s most suitable regions for crypto mining and those hoping for a ban
The Russian Central Bank and the Ministry of Finance recently agreed on a law aimed at regulating cryptocurrency mining, which should be adopted by the end of this year. Lawmakers working toward a final decision suggest that industrial activity should only be allowed in parts of the vast country that can produce more electricity than needed.
One of them, Anatoly Aksakov, chairman of the parliamentary financial market committee, said energy-intensive processes should be banned in other regions facing power shortages. The deputy secretary assured that the respective bills would be introduced to the House of Representatives in the near future, and also called for simultaneous regulation of mining and cryptocurrencies.
The idea of allowing the issuance of digital coins only in areas with a stable surplus of power generation is not new. Russia’s Ministry of Economic Development he made a proposal in the same direction in February. was suggested Introduction of “acceptable” electricity tariffs for miners.
Roman Nekrasov, co-founder of the ENCRY Foundation, which represents IT companies providing services in the field of blockchain and innovation, told RBC Crypto which Russian regions could be allowed to host cryptocurrency mining operations. shared expectations about which sex is the highest. He also named places where miners are hardly welcome.
Mining will be allowed in areas with hydro and nuclear power plants, he told a cryptocurrency news outlet. Irkutsk The province and the Krasnoyarsk region with many hydroelectric power plants, and the Tver, Saratov, Smolensk and Leningrad regions with nuclear power plants.
According to Nekrasov, digital currency minting will probably be banned in the capital Moscow and its neighboring Moscow, Belgorod and Krasnodar regions, which have historically suffered from energy shortages.He also hopes to crack down on illegal mining facilities Dagestan intensify. The Russian Republic is another region with inadequate electricity supply and high unemployment, with mining spreading as a popular source of income.
Crypto industry experts also believe that Russian authorities may allow cryptocurrency extraction in Karelia. But this could happen under certain conditions, such as requiring mining companies to help build small hydroelectric plants, said Roman Nekrasov.Karelia is most popular Destinations for cryptocurrency mining in Russia, according to a study published earlier this year.
Do you think Russia will only allow mining in energy-rich regions? Share your thoughts on the matter in the comments section below.
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