Russia bans cryptocurrency mining in multiple regions

It’s a quiet end of December for tech news. However, alongside our usual tech throwback in 2024, the Russian government is cracking down on cryptocurrencies, and the final seasons of the hit Netflix phenomenon are on their way.

First, according to reports by the state-owned TASS news agency, the Russian government Forbidden Cryptocurrency mining in ten regions for six years. Russia cited high energy consumption rates in industry as the main reason behind the ban. Cryptocurrency mining already accounts for approximately 2.5% of energy use in the United States. The Russian ban takes effect on January 1 and lasts until March 15, 2031. The currency has only been fully legal in Russia since November.

– Matt Smith

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