• The Energy Committee of the State Council of Russia has proposed a ban on cryptocurrency mining in residential areas.
• The proposal is meant to make the community safer from fires due to the large quantities of energy used for industrial mining farms.
• Anton Tkachev, a member of the State Duma Committee on Information Policy, Information Technologies, and Communications, believes the ban should apply to energy-deficient regions.
The Russian State Council has recently proposed a ban on cryptocurrency mining in residential areas, citing concerns of fire safety due to the large amounts of energy used by industrial mining farms. Anton Tkachev, a member of the State Duma Committee on Information Policy, Information Technologies, and Communications, expressed his support for the proposed ban, noting that it is particularly necessary in energy-deficient regions.
The proposal was made in the midst of a growing trend of regular Russians engaging in crypto-related activities, particularly in regions with cheap energy. The State Duma is currently debating legislation that could further regulate cryptocurrency mining, in an effort to make the community safer from the risks posed by mining in residential areas.
The Energy Committee of the State Council first proposed the ban in mid-December, with the primary goal being to protect the community from potential fires caused by the large amounts of energy used for mining. The committee stated that the ban would be particularly necessary in regions with limited resources for maintenance and repair of their energy infrastructure.
Tkachev has argued that the ban is necessary for the safety of smaller communities, and that the risk of fires in private residences, due to the use of mining equipment, is a valid concern. He has also suggested that the State Duma should pass laws that would provide clarity and ensure that all crypto-related activities are properly regulated.
The proposed ban has sparked debate amongst members of the Russian crypto community, with some arguing that the ban could limit their access to cryptocurrencies. Others have argued that the ban could have a positive impact on the community, by reducing the risk of fires caused by industrial mining farms.
Regardless of the outcome, it is clear that the proposed ban has the potential to have a significant impact on the crypto mining industry in Russia. It remains to be seen whether the State Duma will pass legislation that will regulate cryptocurrency mining, and the future of the industry in the country is still uncertain.