💨 Abstract

Russia's Dagestan region is facing power outages due to illegal cryptocurrency mining activities, with miners building underground installations to evade laws. Local authorities are calling for tougher measures against these power-hungry miners. Cryptocurrency mining legislation, signed by President Vladimir Putin, will come into effect from Nov. 1, 2024, with a special register maintained for companies engaging in cryptocurrency mining.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖