Two regions in Russia lift restrictions on cryptocurrency mining, but the threat of a long-term ban remains

According to Cryptopolitan, the Republic of Buryatia and the Transbaikal Territory in Russia will lift the temporary restrictions on cryptocurrency mining on March 15. These two Siberian regions implemented seasonal restrictions last year to address energy shortages during the autumn and winter months. However, reports indicate that the Moscow government plans to impose a five-year comprehensive mining ban on these two regions starting in 2026.

Currently, Russia has completely banned cryptocurrency mining in 10 regions, including southern Irkutsk Oblast and several Caucasian republics, with these bans set to last until March 2031. The changing regulatory environment has made it difficult for Russian mining companies to plan investments. Notably, Russia's largest mining company, BitRiver, is facing bankruptcy proceedings, and its founder, Igor Runets, was detained in January on suspicion of tax evasion. The company's 100-megawatt mining data center project in the Republic of Buryatia has been completed but has never been put into operation.