Break-away Transnistrian region halts crypto mining amid energy crisis
Cryptocurrency mining farms in the Transnistrian region, western Moldova, will shut down. The self-styled Supreme Soviet of Tiraspol has repealed the 2018 law that permitted the development of blockchain technologies, including cryptocurrency mining.
This decision was prompted by the energy crisis triggered by the reduction or suspension of natural gas supplies to the region, effective January 2025.
The self-proclaimed administration argues that this measure is essential for conserving scarce energy resources, as the region’s electricity generation depends on natural gas. Moreover, the repeal of the law will bring changes to tax and energy legislation.
"Given the ongoing economic instability, as well as the established state policy direction focused on Transnistria’s energy security, the repeal of the Law on the Development of Blockchain Technologies in the region is being proposed. The adoption of this bill will require amendments and additions to the laws ‘On Corporate Income Tax,’ ‘On the Fundamentals of the Fiscal System,’ ‘On Electricity,’ as well as to the Customs Code of the Transnistrian region," stated the so-called Minister of Economic Development of the Transnistrian region, Sergei Obolonic.
The law was fast-tracked under an emergency procedure, making it unfeasible for cryptocurrency mining farms to continue operating. The new regulations will come into force immediately upon signing by the separatist leader and publication in the region’s official outlets.
This report is being updated...
Translation by Iurie Tataru
