Russian President Vladimir Putin explained the decision made by the authorities to prohibit cryptocurrency mining at the discretion of the government in any regions of the country. The solution is due to the growing shortage of electricity, Putin said.

According to him, complaints began to receive complaints that they did not have enough energy capacities for the development of infrastructure projects and industry.

“We recently rejoiced that we have surplus electricity in some regions. There they began to actively engage in mining, and there was a shortage of capacities. We were forced to make certain decisions in the field of mining, ”Putin explained.

The law on cryptocurrency mining was adopted in 2024. According to his norms, legal entities and entrepreneurs who want to engage in mining must get to the register of the Federal Tax Service (Federal Tax Service).

Russians who are not designed as an individual entrepreneur can engage in digital currency mining without inclusion in the register, if the state-established energy consumption limits of 6,000 kWh per month are not exceeded by the government. According to the new law, all miners are required to provide the Federal Tax Service of information about the extracted digital currency.

From January 1, 2025, cryptocurrency mining is prohibited in ten regions of Russia. In Buryatia and Transbaikalia, mining is prohibited in peak periods of energy consumption. In the south of the Irkutsk region, a partial ban was first introduced at first, but from April 7 it became constant.

Earlier, the Ministry of Energy of Russia, the Federal Tax Service and the Ministry of Digital Development, Communications and Mass Communications have compiled a register of equipment for the extraction of cryptocurrencies. He should help detect and identify miners.