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Russian Government Allows Regions to Raise Electricity Rates for Crypto Miners

Russian Government Allows Regions to Raise Electricity Rates for Crypto MinersThe federal government in Moscow has permitted regions to determine local electricity tariffs for the population, a measure that will affect crypto mining at homes. Subsidized household electricity in Russia is often used to mint digital currencies in basements and garages. Regions in Russia Granted Permission to Increase Costs for Home Mining Russians mining cryptocurrencies […]

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Illegal Crypto Miners Threatened With Jail Time in Russia

Illegal Crypto Miners Threatened With Jail Time in RussiaCryptocurrency miners that are illegally connecting their equipment to the power grid should go to prison, says a Russian lawmaker who recently announced that his nationalist party is working on draft legislation to regulate the crypto activity. The industry cannot rely on support from the state, another high-ranking parliamentarian has added. Unauthorized Use of Power […]

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Power Utility Sues Russians Mining Cryptocurrency at Their Homes, Raises Electricity Rates

Power Utility Sues Russians Mining Cryptocurrency at Their Homes, Raises Electricity RatesA Russian power utility has found a way to increase electricity prices for consumers mining cryptocurrency using household electricity. The regional distribution company has taken dozens of amateur miners to court and has already won some of the cases. Power Utility Goes After Crypto Miners Using Subsidized Electricity to Mint Digital Coins Irkutskenergosbyt, a power […]

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China’s Hainan Province Ramps Up Crackdown on Crypto Mining Operations

China’s Hainan Province Ramps Up Crackdown on Crypto Mining OperationsThe province of Hainan in South China has taken steps aimed at curbing crypto mining activities. Besides blacklisting the industry, local authorities are also introducing higher electricity rates for the mining enterprises that continue to operate in the region. Hainan to Ensure Crypto Miners Pay More for Power The ongoing crackdown on cryptocurrency mining in […]

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China Targets Crypto Mining at State-Owned Enterprises, Threatens Punitive Measures

China Targets Crypto Mining at State-Owned Enterprises, Threatens Punitive MeasuresAuthorities in China are continuing to crack down on activities linked to cryptocurrencies which they consider illegal. The country’s top economic planning body has clearly indicated it intends to go after large-scale cryptocurrency mining taking place at government-operated industrial facilities. State Firms Mining Crypto in China to Face Higher Electricity Bills China’s National Development and […]

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Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs

Russian Officials Back Idea of Recognizing Crypto Miners as EntrepreneursCryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian Government to Collect Millions of Dollars in Taxes After Legalizing Crypto Mining While the […]

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Russia, Belarus Move to Introduce Special Electricity Tariffs for Crypto Miners

Russia, Belarus Move to Introduce Special Electricity Tariffs for Crypto MinersAuthorities in Belarus and the Russian Federation are taking steps to separate cryptocurrency miners from other groups of power users and deny them access to subsidized energy. This could lead to the adoption of differentiated electricity rates for businesses involved in digital coin minting activities. Cryptocurrency Miners in Russia and Belarus May Face Higher Energy […]

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Lawmakers in Kazakhstan Propose Registration for Crypto Farms, Higher Electricity Rate for Miners

Lawmakers in Kazakhstan Propose Registration for Crypto Farms, Higher Electricity Rate for MinersMembers of the parliament in Kazakhstan have proposed the establishment of a state register for cryptocurrency farms operating in the country. Alarmed by the growing consumption of energy in the sector, the lawmakers also want to charge miners a higher price for the electricity they use. Mazhilis Members Want Miners in Kazakhstan to Register With […]

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Kyrgyzstan Raises Electricity Rates for Cryptocurrency Miners

Kyrgyzstan Raises Electricity Rates for Cryptocurrency MinersThe government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More for Electricity Companies operating crypto mining facilities in Kyrgyzstan will […]

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Iranian Ministry of Industries Denies Power Shortages Are Caused by Illegal Crypto Miners

Iranian Ministry of Industries Denies Power Shortages Are Caused by Illegal Crypto MinersIran’s Ministry of Industries, Mining and Trade has rejected claims blaming illegal cryptocurrency miners for the continuing electricity shortages in the country. The department believes the state-run utility company, Tavanir, has overestimated their role in the power deficit. Illegal Miners Burn Less Energy Than Tavanir Estimates, Ministry of Industries Says An official from the Iranian […]

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