• Russian presidential advisors on the Energy Committee of the State Council have proposed a ban on cryptocurrency mining in residential zones.
• Anton Tkachev, a member of the State Duma Committee on Information Policy, Information Technologies, and Communications, thinks it’s a good idea to prohibit mining in residential areas and energy-deficient regions.
• The State Duma, the lower chamber of the Russian parliament, is presently debating legislation designed to regulate mining activities.
Crypto mining in residential zones of Russia might face a ban soon, according to reports from local media. The proposal was put forth by the Energy Committee of the State Council, and there is already a growing consensus that this ban could make the community safer from fires. Anton Tkachev, who is a member of the State Duma Committee on Information Policy, Information Technologies, and Communications, believes that this ban is necessary in order to ensure energy security in the smaller communities which lack the resources to properly maintain and repair their energy infrastructure.
The risk of fires starting in private residences due to the mining equipment is another factor that has been highlighted. This is why the State Duma, the lower chamber of the Russian parliament, is currently debating legislation that would regulate the mining activities in the country. This would be a major shift for the country, as many regular Russians have been using crypto-related activities as a side hustle due to the lack of regulation.
The committee’s minutes from mid-December indicate that the experts on energy and the digital economy will be discussing the issue in detail in the near future. This means that the ban could be implemented soon in an effort to protect the residential areas from the dangers of crypto mining. It remains to be seen how this will affect the crypto mining industry in Russia, but it is clear that the government is taking steps to ensure the safety of its citizens.