- Russia to cut electricity for illegal miners during high-demand power periods.
- New national registry launched to monitor crypto mining devices across Russia.
- Home crypto miners limited to 6,000 kWh monthly to prevent abuse.
Russia is planning to tighten its rules for cryptocurrency miners. The government wants to stop illegal mining and protect the country’s power supply. Recently, in Moscow, there was a meeting of the Russian Cabinet of Ministers. Numerous officials were present. The deputy prime minister was briefed by major departments. These included the Ministry of Energy, the Federal Tax Service, and the agency for supervising communications and technology. They all discussed new ways to regulate crypto mining.
Russia May Cut Power to Illegal Crypto Miners During Peak Hours
A major idea is to cut off illegal miners to the grid. This will occur when there is high demand of electricity. This plan will be completed soon at the Ministry of Energy. This implies that the miners can be turned off during peak hours to conserve energy to the households and other basic necessities.
Meanwhile, Russia has initiated a national crypto mining machinery registry. The Ministry of Energy, the Federal Tax Service, and the Ministry of Digital Development cooperate when it comes to creating this new registry. The objective is just easy. They just want to know precisely how many mining machines are operating in Russia. With the monitoring of these machines, they can control the stress of the power grid better.
Moreover, the importation of mining equipment has new regulations. This has been changed as now any mining devices imported into Russia should be labeled and certified. This will assist the government in determining the legal and illegal activities. According to officials, this will prevent individuals from using uncertified gadgets that may consume enormous power.
Alexander Novak, the Deputy Prime Minister, has set a deadline for the Ministry of Energy. They are required to come up with the final rules before the end of this quarter. The rules will initially be used in areas where mining has already been restricted once it is approved.
Russia Caps Home Crypto Mining to 6,000 kWh Monthly Limit
Some Russian regions already have strict mining bans. For example, mining is prohibited in Buryatia and Transbaikalia because of the heating season. Mining is prohibited in some territories of the Irkutsk region and North Caucasus republics till 2031. These regions experience an energy deficit, particularly in cold winters. Unlawful mining imposes additional stress on the local grids.
Mining is not prohibited in other regions of Russia. However, the rules are obvious. Small business owners and companies should also be registered with the Federal Tax Service in case they want to mine crypto legally. People may also engage in mining; however, their monthly consumption of electricity may not exceed 6,000 kilowatt-hours. This restriction discourages big unlawful activities that pose as personal mining facilities.
These measures indicate that Russia is keen to have its way with the crypto mining sector. Through the new technology, the officials believe they will be able to trace and curtail illegal miners quickly. They also wish to make sure that there is enough power to keep houses and essential facilities satisfied.
This call toward stricter regulations is when the world is once more showing an increased interest in crypto mining. Russia has been receiving a lot of miners in the past years due to its low-cost energy. However, the government is of the opinion that illegal mining is costing the country too much now.
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