Sweden’s energy minister says the country needs the power currently used by bitcoin miners.
Concerned about projected increase in electricity demand, the government in Sweden may turn its back on crypto mining, the country’s energy minister has indicated. Swedish bitcoin minting industry, a leader in Europe, is likely to soon lose the preferential treatment it has been taking advantage of for some time, a media report revealed.Amid forecasts for growing energy needs in other sectors, Sweden may change its attitude towards cryptocurrency mining.
Farmanbar refrained from revealing what measures the government might impose to restrict mining but two options have been discussed. One is to change the order in which power users are connected to the network, prioritizing those that presumably bring more benefits to the society, such as creating a large number of jobs.
I think the existing tax reliefs should be focused on the activities they were meant to attract in the first place. Mining of cryptocurrencies is more questionable.“I think a lot of public officials including the energy minister who have strong opinions about cryptocurrency and blockchain in general need further education and awareness,” commented Sukesh Kumar Tedla who chairs the Swedish Blockchain Association.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Sweden favors making steel over mining bitcoin as power gets scarce: BloombergSweden’s Energy Minister Khashayar Farmanbar says it is more important to provide electricity for job-creating projects like steel plants than for bitcoin miners using big amounts of power. “We need energy for more useful things than bitcoin, to be honest,”
Leer más »
Sweden favors making steel over mining bitcoin as power gets scarce: BloombergSweden’s Energy Minister Khashayar Farmanbar says it is more important to provide electricity for job-creating projects like steel plants than for bitcoin miners using big amounts of power. “We need energy for more useful things than bitcoin, to be honest,”
Leer más »
Accused Bitfinex Bitcoin Money Launderer Granted Permission to 'Engage in Legitimate Employment' – Bitcoin NewsFive months after her arrest, a federal judge has given Heather Morgan, the accused Bitfinex BTC money launderer, permission to get a job and “engage in legitimate employment.”
Leer más »
Andorra green lights Bitcoin and Blockchain with Digital Assets ActAn analysis of Andorra’s Digital Assets Act and the potential confusion surrounding Bitcoin, blockchain and crypto according to crypto business owners.
Leer más »
Democratic lawmakers want federal regulators to track crypto mining energy use and emissions | EngadgetDemocratic lawmakers want federal regulators to require crypto miners to disclose their energy use.
Leer más »
Could Bitcoin miners’ troubles trigger a ‘death spiral’ for BTC price?Traders are afraid that Bitcoin miners selling their reserves could trigger a “death spiral” in BTC price, but ArthurMining and noshitcoins say many operators are profitable despite the strength of the current crypto winter.
Leer más »