Russian authorities have announced plans to prohibit cryptocurrency mining in the occupied territories of Ukraine as the conflict between the two nations entered its thousandth day.
Russia’s Deputy Prime Minister Alexander Novak led a meeting attended by top ministers at which they reportedly discussed the country’s “difficult regime-balance” and how it is impacting an electricity industry that sees a lack of supply and capacity during the autumn-winter months.
According to the Moscow Times, Russia’s government is covering all bases — including invaded ones — with a proposed crypto mining ban that extends to captured Ukraine territories, such as the Donetsk, Lugansk, Zaporizhia, and Kherson regions.
Read more: Paraguay shuts illegal bitcoin mines that stole enough power to light a city
A further six territories in Russia’s North Caucasus region will also face a flat-out ban on crypto mining activities until 2031. The Irkutsk, some of Buryatia, and Zabaikalsky Krai regions will face a partial mining ban in the autumn-winter months until 2031.
Russia passed a law in July that legalized crypto mining from November 1. That means there were just 18 days between its legalization and banning.
Today marks 1,000 days since Russia decided to invade Ukraine. Today also saw the first time Ukraine launched US-provided long-range missiles into Russian territory since the White House lifted a ban on their use in the conflict.
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