Russia Proposes Six-Year Cryptocurrency Mining Ban in Moscow Region

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

Explore Agentic TradingLet AI Trade for You

Mining Ban Proposal: A state commission in Russia has proposed a six-year ban on cryptocurrency mining in Moscow and surrounding areas, expected to take effect by 2032, aimed at managing energy consumption and protecting critical energy infrastructure, which may negatively impact the local economy.
Local Support: Deputy Energy Minister and local officials emphasize that banning crypto mining will help alleviate electricity supply pressures, particularly amid the ongoing war, with local governments hoping to boost energy reserves to ensure reliable electricity for households and industries.
Nationwide Expansion Plans: The government is considering extending the mining ban to all 19 administrative regions within Moscow's electricity distribution zone, which would significantly curtail crypto mining activities across Russia's Central Federal District, impacting the country's economic core.
Legal Consequences: The State Duma has given initial approval to a bill making unregistered mining a criminal offense, with violators facing fines up to 2.5 million rubles and possible imprisonment for up to five years, indicating a growing crackdown on illegal mining activities.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like BTC with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	70661.782	72475.691	74572.182	76386.091	78482.582	80296.491	82392.982
Fibonacci	72475.691	73969.464	74892.318	76386.091	77879.864	78802.718	80296.491

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

Let AI Trade for You

Auto Trading Task on BTC?

Get Started Free