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Several Russian regions to ban digital currency mining soon — deputy energy minister

Yevgeny Grabchak explained that the measure will be introduced due to electricity shortages in the regions

MOSCOW, October 30. /TASS/. Mining of digital currencies will be banned in some regions of Russia at the state level in the near future, Deputy Energy Minister Yevgeny Grabchak said.

"If we say that mining is the forerunner of digitalization, then mining will soon be banned at the state level in some regions. Any (mining)," he said at the RBC Tech forum.

Grabchak explained that this is due to electricity shortages in the regions.

"For example, we already have shortage zones - the Far East, the southwest of Siberia, the South. There, we cannot give large capacities to anyone in the long term until 2030," he said.

Earlier, Russian President Vladimir Putin signed a law on regulating the circulation of digital currency. The law comes into force on November 1 and gives the Russian government the right to ban digital currency mining in specific regions or their individual territories, as well as to determine the procedure and cases for introducing such restrictions. Participation in a mining pool, a special server used to distribute the load on digital currency mining, may also be prohibited.