The Russian authorities will soon ban mining in some regions of the Russian Federation. This is reported by TASS with reference to a statement by Deputy Head of the Ministry of Energy of the Russian Federation Evgeny Grabchak.
He explained the decision by a shortage of electricity.
The official added that any cryptocurrency mining activity, including participation in a pool, will be prohibited.
The government’s powers to limit mining in certain regions and in certain territories are spelled out in the laws “On DFA and digital currency” and “About the electric power industry.” The Cabinet of Ministers will be able to establish the procedure and cases for introducing such a ban.
Earlier, MP Anton Gorelkin, commenting on the concerns of industry participants, said that the authorities are not interested in shocks and the measure will be used “in exceptional cases.”
Stay informed! Subscribe to World Stock Market in Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
