Proposed crypto mining ban in residential areas in Russia

In Russia, the Energy Committee of the State Council, an advisory body to the President of Russia, has called for or recommended a digital currency mining ban in residential areas, which the committee says should definitely ban digital currency mining. . Members agree that such a measure would definitely reduce the risk and according to local media such a measure would surely prove to be vital to their economy. Speaking of which, the idea is to completely ban the production of cryptocurrencies in apartment blocks and homes in the country, or at least in parts of Russia facing energy shortages, and this includes Moscow and the Moscow Oblast. Also included are the areas adjacent to the capital of Russia. If we talk about activities related to crypto, which are present as a source of additional income for living in Russia in general, especially in areas with cheap electricity, then it is not yet regulated and The one prepared to do this is currently kept in the lower house of the Parliament as a review i.e. it will be decided after review and a final decision will be taken on it. Additionally, energy experts have also suggested that the federal government should empower regional authorities to levy additional taxes on the mining of cryptocurrencies, and a report that was conducted in mid-December suggests that The committee made this disclosure citing its meetings. Anton Tkachev, a member of the State Lower House Committee on Information Policy and Information Technology, as well as Communications, believes that a complete ban on mining, as well as its elimination in residential areas, is a logical step. This appears to be the case, and therefore exists as a possibility because industrial mining pharma already consumes significant amounts of energy or dissipates energy significantly. He also emphasized that energy security is a serious issue that needs attention of all of us and definitely a good source of energy systems especially for small towns and proper maintenance and upkeep of its facilities. There is a substantial need for repair and with this the jurist said that as far as private houses are concerned, there is a danger of fire due to mining equipment and with this the situation becomes dangerous there. The Russian Ministry of Energy, which supports regulation of crypto-related mining, states that distribution networks in residential areas are not designed to handle overloads caused by coin mining in homes, as reported by Russian energy companies. Has been reported.
The Irkutsk Oblast has become a hotspot in Russia for domestic mining as residents take advantage of the country’s supposedly low-cost electricity and subsidized power for the population and set up crypto farms in basements and garages. According to the media, during the first half of 2022 alone, mining hardware has been recovered from 23 such fires in the region.


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