Russia Plans to Ban Data Centers from Using Subsidized Electricity for Cryptocurrency Mining

According to a report by Cryptonews cited by Jinse Finance, the Russian government is set to ban domestic data processing centers from using subsidized electricity for cryptocurrency mining. The government has revised the draft mining bill, which passed its first reading in the State Duma in 2022, and is now working with lawmakers to refine the bill in preparation for its second reading. The bill proposes that the Ministry of Digital Development and Communications establish a registry system for data centers, requiring operators to pledge not to conduct cryptocurrency mining at their facilities. Only operators who make this pledge will be eligible for preferential electricity rates. Participation in the registry system will be entirely voluntary, but all registered businesses will be prohibited from installing mining equipment, even if such equipment is not connected to the internet.