Russia Denies Plans to Ban Cryptocurrency Mining in Moscow

The recent statement by the Russian Ministry of Energy has clarified the current status of cryptocurrency mining in Moscow, alleviating concerns about potential restrictions.

According to the ministry's clarification, no formal request for a ban on cryptocurrency mining operations has been submitted by Moscow authorities. This decision is based on the established procedure requiring gubernatorial initiation, which remains unfulfilled.

The current regulatory framework for cryptocurrency mining in Russia allows for fully legal operations under the 2022 'On Digital Financial Assets' law. This legislation recognizes mining as an entrepreneurial activity while restricting domestic cryptocurrency payments for goods and services.