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In October 2024, Russian President Vladimir Putin signed a law regulating cryptocurrency mining, which includes mandatory registration for miners and restrictions on foreign participation. However, as winter approaches and electricity shortages loom, Russia has announced a ban on mining activities in certain regions. The new regulations aim to impose structure on the crypto sector, but experts suggest that the industry is not fully legalized yet. Additionally, a study by Exponential Science indicates that such bans might inadvertently increase carbon emissions if miners relocate to areas with less clean energy. The specific tax rates for miners remain unclear.
