Russia Refuses to Ban Mining in Khakassia

The Russian government decided not to ban mining in Khakassia due to no expected power shortages and tax loss risks. Authorities plan to support mining in regions with surplus electricity.

Authorities Reject Cryptocurrency Mining Ban

The Russian government has chosen not to impose a mining ban in Khakassia. The main reason is the absence of any forecasted electricity shortages. Furthermore, restrictions would negatively affect tax revenues.

During the meeting, other regions were also discussed. The decision on a year-round mining ban in Zabaykalsky Krai and Buryatia has been postponed for two months. Meanwhile, proposals to ban mining in Karelia and Penza regions were withdrawn.

Authorities to Reassess Impact on Energy Companies

In the next two months, specialists will assess financial losses for energy companies. Based on this review, regulations will be drafted to allocate freed-up capacities for social and critical infrastructure.

Additionally, the government instructed FAS and the Ministry of Energy to work with electricity providers to develop support measures. These measures aim to encourage mining companies to operate in regions with surplus electricity generation.

Crackdown on Illegal Mining Intensifies

Meanwhile, Irkutsk region continues to fight illegal mining. Previously, Governor Igor Kobzev signed an order to detect hidden mining activities, officially classified as illegal digital currency mining.