The Russian government has announced a ban on cryptocurrency mining in ten regions and imposed seasonal restrictions in three others to manage energy consumption. The announcement was made in Moscow on December 24, as reported by The Russian News Agency (TASS).
According to TASS, the ban affects Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, the Donetsk and Lugansk People's Republics, as well as the Zaporozhye and Kherson regions. Seasonal restrictions will apply in parts of Irkutsk, Buryatia, and Zabaikalsky during peak energy periods from January 1 to March 15 in 2025 and November 15 to March 15 in subsequent years. A government spokesperson clarified that "the purpose of such restrictions is to maintain the balance of energy consumption taking into account the needs of industry," with potential adjustments to affected regions determined by the electric power industry commission.
This development coincides with President-elect Donald Trump's pledge to position the United States as a leader in cryptocurrency. Trump said his intention to make America "the world capital of crypto and Bitcoin" by implementing supportive policies and establishing a national Bitcoin reserve. He emphasized embracing industries of the future rather than attacking them.
Trump also announced via Truth Social that David O. Sacks will serve as the "White House A.I. & Crypto Czar," responsible for shaping U.S. policy on artificial intelligence and cryptocurrency. Sacks will focus on establishing U.S. leadership in these fields while addressing concerns over Big Tech bias and safeguarding free speech online.
TASS marked its 120th anniversary on September 1, 2024. Founded as the St. Petersburg Telegraph Agency in 1904, TASS is recognized for its extensive global reach as Russia's official distributor of government information. It operates numerous regional offices across Russia and international branches worldwide.
