Russia Bans Cryptocurrency Mining in Moscow and Multiple Regions
The Russian government has approved a ban on cryptocurrency mining in Moscow, the Moscow Region, and several municipalities in the Kursk Region. The restrictions will take effect on August 15, 2026, and last until December 31, 2032.
Similar bans are already in place in 13 energy-deficient regions, including Irkutsk, Buryatia, and Zabaykalsky Krai, due to high electricity demand from mining farms. The authorities argue that cryptocurrency mining consumes huge amounts of electricity without providing comparable benefits to the region's economy.
The ban affects participants involved in digital currency mining, including companies and individual entrepreneurs in Russia. The tax framework is also a concern, with the Federal Tax Service responsible for administering the obligations of businesses operating under the current rules.