Russia Bans Crypto Mining in Moscow Until 2032

The Russian government has announced a ban on cryptocurrency mining in Moscow and several regions of Russia until 2032. The restrictions are aimed at reducing the high load that mining puts on the power grid.

The ban will affect Moscow, the Moscow region, and part of the Kursk region, including eight municipal districts and the city of Lgov. Mining activities in these areas must comply with territorial restrictions, accounting, tax, and energy consumption requirements.

The government's interest in regulating cryptocurrencies is to bring the market out of the gray zone, account for taxes, control the load on networks, and set clear rules for trading digital assets. The new restrictions are seen as a continuation of the course toward clearer rules for the market.