Russia bans cryptocurrency mining in Moscow, Kursk

The Russian government has decided to ban cryptocurrency mining in Moscow, the Moscow Region, and certain parts of the Kursk Region.

The decision, published on the Russian government’s official information portal on Friday, outlined new regulations aimed at preventing a potential shortfall in energy capacity.

Accordingly, cryptocurrency mining will be banned in certain parts of Moscow, the Moscow Region, and the Kursk Region from August 15 until December 31, 2032.

Cryptocurrencies and cryptocurrency mining had rapidly gained popularity in Russia due to sanctions imposed by Western countries on Russian financial institutions.

The Central Bank of Russia had also launched a program in 2024 allowing exporters and importers to make cross-border payments using cryptocurrencies.

The Russian Ministry of Energy had reported that connecting energy-intensive mining facilities to the power grid posed a risk of an energy capacity shortfall in the regions in question.