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Experts warn of rise in illicit crypto mining after its ban in regions

Energy think tank director Sergey Sasim agrees that some miners may choose not to follow the law

MOSCOW, November 20. /TASS/. The government's impending ban on crypto mining in a number of Russian regions may cause the activity to go underground, experts questioned by TASS said.

Chances are good that some miners may continue doing business illegally after the restrictions are introduced, deputy chairman of the State Duma’s energy committee Yury Stankevich said. The reason is purely economic, he noted. "As long as mining remains profitable for most participants (Bitcoin is trading at an average of $20,000). Remember, Bitcoin reached an all-time high in November, climbing to $90,000," he said.

Energy think tank director Sergey Sasim agrees that some miners may choose not to follow the law. If regions are unable to effectively crack down on "gray" mining, illicit mining activity may propagate.

The governmental commission on electric power approved the ban on cryptocurrency mining in certain regions. It will take effect in December 2024.