The Russian government has banned crypto mining in ten regions for a period of six years, according to reporting by the state-owned news agency Tass. Russia has cited the industry’s high power consumption rates as the primary reason behind the ban. Crypto is particularly power-hungry, as mining operations already account for nearly 2.5 percent of US energy use.
This ban takes effect on January 1 and lasts until March 15, 2031. The country’s Council of Ministers has also stated that
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