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Home » Russia bans cryptocurrency mining in multiple regions
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Russia bans cryptocurrency mining in multiple regions

matthewephotography@yahoo.comBy matthewephotography@yahoo.comDecember 27, 2024No Comments2 Mins Read
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The end of December is a quiet time for technology news. Yet, parallel to the annual tech retrospective of 2024, the Russian government is cracking down on cryptocurrencies, and the final season of the hit Netflix phenomenon approaches.

First, the Russian government has banned cryptocurrency mining in 10 regions for six years, according to a report from the state news agency TASS. Russia cited the industry’s high electricity consumption rate as the main reason for the ban. Cryptocurrency mining operations already account for nearly 2.5% of U.S. energy use. Russia’s ban will take effect on January 1 and last until March 15, 2031. It was only in November that the currency became fully legal in Russia.

— Matt Smith

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