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19/11/2021   Norway Considers Backing Swedish Crypto Mining Ban Proposal, Hints Minister

Swedish regulators think crypto mining is impeding the Paris Climate Agreement goals.

Norway is considering a crypto mining ban proposal put forth by two Swedish regulatory officials, Minister of Local Government and Regional Development Bjørn Arild Gram hinted in a Nov. 17 interview withEuronews.

  • Norway is “currently considering potential policy measures” to address the “challenges related to crypto mining.” In this context, they are “looking at the solutions proposed by the Swedish regulators” with an eye on Europe-wide regulations, Gram said.
  • In anopen letter, officials from two of Sweden’s top regulators called for Europe to ban proof-of-work mining in order to meet the Paris Climate Agreement goals, Euronews reported on Nov. 12.
  • Gram said that despite the possible long-term benefits of bitcoin, it is difficult to justify the extensive use of renewable energy today.