Crypto Mining in Residential Areas of Russia Might Face Ban Soon

• Members of the group think the change would make the community safer from fires.
• Anton Tkachev thinks it’s a good idea to prohibit mining in residential areas.

Russian presidential advisors on the Energy Committee of the State Council have proposed a ban on cryptocurrency mining in residential zones. Local media have stated that members of the group think the change would make the community safer from fires.

The plan is to outlaw cryptocurrency mining nationwide, or at least in regions of Russia where power outages are common. Included in this group is the city of Moscow as well as the surrounding Moscow Oblast in Russia.

Legislation Required For Clarity

Because industrial mining farms use such large quantities of energy, Anton Tkachev, a member of the State Duma Committee on Information Policy, Information Technologies, and Communications, thinks it’s a good idea to prohibit mining in residential areas and energy-deficient regions.

He also stressed the need for energy security, saying it is particularly pressing for smaller communities that lack the resources to properly repair and maintain their energy infrastructure. The lawmaker stated that there is also a danger of fires starting in private residences due to the mining equipment.

Many regular Russians, particularly those living in regions with inexpensive energy, engage in crypto-related activities as a side hustle since it is not yet regulated. The State Duma, the lower chamber of the Russian parliament, is presently debating legislation designed to achieve just that.

The committee’s minutes from mid-December indicate that the experts on energy also recommended that the federal government give regional authorities the authority to levy extra levies on cryptocurrency mining. Miners had a struggling time last year as prices of most cryptocurrencies including Bitcoin fumbled. However, this year started on a bright note with major cryptocurrencies trading in green.