Russian government readies tougher rules for miners
The post Russian government readies tougher rules for miners appeared on BitcoinEthereumNews.com. Russia is preparing to impose new restrictions on cryptocurrency miners, including stricter punishments for violating existing bans and illegal mining activities. One of the proposed measures will allow authorities to remotely disconnect crypto mining facilities from the grid during periods when demand for electricity is at its highest. Russian government readies tougher rules for miners The Ministry of Energy in Russia has been tasked to finalize regulations for those involved in the extraction of digital currencies, the Interfax news agency reported, following a recent meeting of the Cabinet of Ministers in Moscow. According to a report issued after the meeting chaired by Deputy Prime Minister Alexander Novak, the updated rules include introducing greater liability for illegal connection to distribution networks, electricity theft, and violation of imposed mining bans. Furthermore, crypto miners will be added to a new category of consumers of lesser importance, for which the reliability of power supply is far from guaranteed. The energy ministry is now expected to develop “a mechanism for redistributing the released capacity when limiting mining activities in a region in order to connect socially significant consumers to the power grid,” the document detailed. Russia wants to unplug mining farms remotely The Russian government explained that the establishment of the new “fourth” consumer category actually means having the option to “introduce remote restrictions on consumption during peak loads and under threat of energy and capacity shortages.” Russia legalized cryptocurrency mining in 2024 to exploit its competitive advantages, such as cheap and abundant energy. But Moscow was caught unprepared for how quickly miners managed to turn energy surpluses into shortages, prompting Putin to comment: “We were happy we had electricity surpluses in some regions. But they began mining there … We had to make certain decisions.” Speaking at an economic forum this month, the Russian…
The post Russian government readies tougher rules for miners appeared on BitcoinEthereumNews.com.
Russia is preparing to impose new restrictions on cryptocurrency miners, including stricter punishments for violating existing bans and illegal mining activities. One of the proposed measures will allow authorities to remotely disconnect crypto mining facilities from the grid during periods when demand for electricity is at its highest. Russian government readies tougher rules for miners The Ministry of Energy in Russia has been tasked to finalize regulations for those involved in the extraction of digital currencies, the Interfax news agency reported, following a recent meeting of the Cabinet of Ministers in Moscow. According to a report issued after the meeting chaired by Deputy Prime Minister Alexander Novak, the updated rules include introducing greater liability for illegal connection to distribution networks, electricity theft, and violation of imposed mining bans. Furthermore, crypto miners will be added to a new category of consumers of lesser importance, for which the reliability of power supply is far from guaranteed. The energy ministry is now expected to develop “a mechanism for redistributing the released capacity when limiting mining activities in a region in order to connect socially significant consumers to the power grid,” the document detailed. Russia wants to unplug mining farms remotely The Russian government explained that the establishment of the new “fourth” consumer category actually means having the option to “introduce remote restrictions on consumption during peak loads and under threat of energy and capacity shortages.” Russia legalized cryptocurrency mining in 2024 to exploit its competitive advantages, such as cheap and abundant energy. But Moscow was caught unprepared for how quickly miners managed to turn energy surpluses into shortages, prompting Putin to comment: “We were happy we had electricity surpluses in some regions. But they began mining there … We had to make certain decisions.” Speaking at an economic forum this month, the Russian…
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