The Russian government has announced a ban on cryptocurrency mining in ten regions and introduced seasonal restrictions in three others to manage energy consumption. The announcement, reported by The Russian News Agency (TASS), was made in Moscow on December 24.
According to TASS, the prohibition affects cryptocurrency mining in Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, the Donetsk and Lugansk People's Republics, along with the Zaporozhye and Kherson regions. Seasonal restrictions will also be implemented in parts of Irkutsk, Buryatia, and Zabaikalsky during peak energy demand periods from January 1 to March 15 in 2025 and from November 15 to March 15 in subsequent years. A government spokesperson said that "the purpose of such restrictions is to maintain the balance of energy consumption taking into account the needs of industry," noting that adjustments may be made by the electric power industry commission as necessary.
In contrast to Russia's regulatory measures, President-elect Donald Trump has pledged to transform the United States into the "crypto capital of the planet" by introducing supportive policies and creating a national Bitcoin reserve. He declared that "instead of attacking industries of the future, we will embrace them, including making America the world capital of crypto and Bitcoin." Cointelegraph notes this marks a departure from earlier regulatory strategies aimed at promoting innovation and establishing U.S. leadership in the cryptocurrency sector.
On Truth Social, Trump announced that David O. Sacks will serve as the "White House A.I. & Crypto Czar," responsible for shaping U.S. policy on artificial intelligence and cryptocurrency. Sacks will work to position the U.S. as a global leader in these fields while addressing concerns about Big Tech bias and protecting free speech online. Trump said that "David will focus on making America the clear global leader in both areas. He will safeguard free speech online and steer us away from Big Tech bias and censorship."
TASS celebrated its 120th anniversary on September 1, 2024. Established in 1904 as the St. Petersburg Telegraph Agency, TASS serves as Russia's official distributor of government information with a significant global presence. Fully state-owned, it operates 64 regional offices within Russia and 62 international branches, producing approximately 3,000 news items daily in six languages.