Lawmaker warns crypto miners in Chechnya will be treated like terrorists in 2025

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As a seasoned researcher with a keen interest in global financial systems and their implications, I find the ongoing saga of crypto mining regulations in Russia particularly intriguing. Having spent years studying the complex interplay between technology, energy consumption, and societal impact, I can’t help but be captivated by this issue.

The recent statement by Adam Delimkhanov, equating cryptocurrency miners with terrorists in Chechnya, is a stark reminder of the polarizing nature of this technology. The concern over electricity stability and disruption is valid, given the high energy demands of mining operations. However, it’s crucial to consider the potential economic benefits that could accrue to the region if managed responsibly.

The ban on crypto mining in several regions, including Chechnya, Dagestan, and others, raises questions about the long-term impact on energy supply and demand dynamics. It’s a delicate balance between ensuring stable power grids and harnessing the potential of emerging technologies.

In a lighter vein, I’d like to share a thought: Perhaps we should consider rebranding these ‘terrorist miners’ as ‘green energy pioneers,’ as their operations could potentially drive the development of more efficient, sustainable power solutions. After all, necessity is the mother of invention!

As a researcher, I’ve noticed that Russian State Duma representative Adam Delimkhanov has proposed a comparison between crypto miners in Chechnya and terrorist entities, due to the prohibition on cryptocurrency mining that will take effect in several regions of Russia starting January 2025.

As reported by the Russian news channel Tsargrad TV, Delimkhanov announced that as of January 1, 2025, cryptocurrency mining will become prohibited within the Chechen Republic. Consequently, anyone discovered engaging in crypto mining within this region will face significant penalties.

The deputy stated, “We consider them as being like terrorists because their actions negatively impact society as a whole.” He was simply repeating the sentiments expressed by Ramzan Kadyrov, the head of Chechnya.

Delimkhanov pointed out that crypto mining might cause issues related to electrical stability in specific regions, potentially impacting residents’ daily routines. This is because crypto mining requires a significant amount of electricity, which could potentially disturb the electrical supply.

If it’s discovered that cryptocurrency mining is causing electrical issues in Russian towns, villages, or cities, the authorities will take prompt action and imprison those involved in crypto mining.

According to a report from crypto.news in October, Russian Deputy Energy Minister Evgeny Grabcha announced plans to prohibit Bitcoin mining in certain crucial areas because of energy scarcity issues.

The ban encompasses both individual crypto miners and mining companies located in regions such as Dagestan, Chechnya, the Donetsk and Lugansk People’s Republics. Additionally, it applies to specific periods (peak hours) within the Irkutsk Region, Buryatia, and Zabaikalsky.

Legislators argue that the extensive energy consumption from cryptocurrency mining has resulted in severe electricity shortages, preventing the supply of substantial power capacities until at least 2030. This ban, set to commence in November, is expected to remain active until March 15th, 2031.

Based on Russian President Vladimir Putin’s signature on a crypto-related bill, Russian legislators now have the authority to restrict cryptocurrency mining in certain areas. Moreover, this legislation includes a ban on advertising for firms offering crypto services and additional limitations.

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2024-12-31 11:11