Russia Slams Brakes on Crypto Mining in Moscow and Kursk Region

Russia's government has imposed a ban on cryptocurrency mining in Moscow and parts of the Kursk region, effective from August 15, 2031, to December 31, 2031. The decision was made by Russian Prime Minister Mikhail Mishustin, who signed the decree on August 14.

The move aims to curb excessive power consumption by mining operations in the Moscow region, which has exceeded 1 gigawatt (GW), straining the local grid and contributing to energy shortages. Officials have noted that the activity generates little economic benefit for the region, prompting the need for regulatory action.

This is not the first time Russia has restricted mining activities. Since January 1, 2025, several regions, including Dagestan, Ingushetia, and parts of the Irkutsk region in southern Siberia, have banned mining due to electricity deficits or subsidized tariffs.