Norway is considering a ban on bitcoin mining
As an argument, the government reported unjustified electricity costs
20.11.2021 - 08:40
646
1 min
0
What’s new? The Norwegian authorities are going to support an initiative of Swedish regulators to ban cryptocurrency mining in the country. As an argument, the government has reported unreasonable electricity costs. Crypto journalist Colin Wu posted this on his Twitter account.
Norwegian stated that they will look to the solutions proposed by the Swedish regulators, and our target would be common European regulations in this area. Previously, Sweden proposed to ban POW mining at the EU level. https://t.co/ZX7xEa6mML— Wu Blockchain (@WuBlockchain) November 19, 2021
What does the official say? Local Government and Regional Development Minister Bjørn Arild Gram added that officials have begun drafting Europe-wide rules to regulate or ban mining altogether. The official commented on the situation as follows:
“Although crypto mining and its underlying technology might represent some possible benefits, in the long run, it is difficult to justify the extensive use of renewable energy today. We want them to support the transition to a climate-neutral society.”
Why are the authorities considering a ban on mining? Because Norway, Sweden, and Iceland have large amounts of renewable electricity and low electricity prices, the countries have gained popularity among miners. Between April and August 2021, the energy consumption by local miners in Sweden increased. This has made it more difficult to meet the country's climate commitments.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 801
BTC
+2.14%
-
Ethereum
$3 371.73
ETH
+8.62%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.41
XRP
+28.91%
-
Dogecoin
$0.393875
DOGE
+3.99%
-
Cardano
$0.886148
ADA
+13.69%
-
Bitcoin Cash
$492.96
BCH
+6.06%
-
Polkadot
$6.21
DOT
+10.92%
-
Stellar XLM
$0.287502
XLM
+21.05%
-
Litecoin
$90.11
LTC
+6.1%