Russia to ban cryptocurrency mining in occupied Ukrainian territories

Russian authorities announced plans to ban cryptocurrency mining in the occupied territories of Ukraine. Russian Deputy Prime Minister Alexander Novak chaired a meeting of senior ministers, where they discussed the country's "difficult regime balance" and its impact on the power industry, which is running low on supply and capacity in the fall and winter. The Russian government reportedly plans to extend the proposed cryptocurrency mining ban to occupied Ukrainian territories such as the Donetsk, Luhansk, Zaporizhia, and Kherson regions. An additional six regions in Russia's North Caucasus will also face a full ban on cryptocurrency mining activities until 2031. Irkutsk, parts of Buryatia, and the Trans-Baikal Territory will face a partial mining ban in the fall and winter until 2031. Russia passed a law in July to legalize cryptocurrency mining from November 1. This means that only 18 days passed between legalization and ban. (Protos)