Russia Bans Crypto Mining in Moscow and Surrounding Areas

Russia has expanded its ban on cryptocurrency mining to include Moscow and several surrounding areas. The new restrictions, which take effect on August 15 and last until December 31, 2032, were signed into law by Prime Minister Mikhail Mishustin on July 25.

The move aims to address concerns about power supply in the region, with the energy ministry of the Moscow region citing rising demand as a reason for the ban. The area affected includes 65 data centres connected to the grid, with a total installed capacity of 734 megawatts.

Russia has previously restricted mining in other areas, including parts of Buryatia and Zabaykalsky Krai. The new restrictions add to these existing measures, further limiting cryptocurrency mining activities in the country.