Norwegian Parliament rejects proposal to ban Bitcoin mining – DiarioBitcoin

Norwegian Parliament rejects proposal to ban Bitcoin mining - DiarioBitcoin

Norwegian Parliament rejects proposal to ban Bitcoin mining - DiarioBitcoin For DailyBitcoin Editor

The Norwegian Parliament voted in favor of mining Bitcoin.


Since November of last year, the Noriega government has been studying the possibility of banning mining Bitcoin. The country’s local government and regional development minister, Bjørn Arild Gram, had said earlier that month that the Scandinavian nation was considering possible political measures to “address the challenges related to crypto mining” and what is “hard to justify the extensive use of renewable energy today”.

Then, in March, the Red Party had proposed legislation to parliament that would ban the mining of Bitcoin. This was under study.

But a few days ago, the Norwegian Parliament voted against the proposal banning such mining.

According to a report from Cointelegraph, the proposal was rejected by a parliamentary vote. The ban garnered no political support outside of members of the Socialist Left Party, the Red Party, and the Green Party of Norway, and was ultimately defeated.

disappointments and joys

Sofie Marhaug of the Red Party declared that she was “obviously disappointed” for the majority vote and said that his party would work harder to win the support of citizens in the future. He said the country must “prioritize” its energy use, pointing to criticism of the energy-intensive use of cryptocurrency mining and the negative impact on climate change.

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Jaran Mellerud, analyst at ArcaneResearch, said to Cointelegraph that the vote meant a major victory for large-scale Bitcoin mining:

“Having lost this vote, these political parties will probably make one more attempt to raise the energy tax specifically for miners, which is now the only thing left in their toolbox to make life difficult for miners.yes”.

Mellerud claimed that political parties hostile to Bitcoin they have been trying to force miners out of Norway through the implementation of a higher energy tax rate. He called the government’s decision to nullify the proposal “the last nail in the coffin” for attempts to rid Norway of the crypto industry.

Green mining oasis

The report states that Norway represents a green oasis” for Bitcoin mining, with abundant hydropower and low energy prices. Norwegian miners contribute just 0.7% to the global hash rate of Bitcoin, According to a global report by the University of Cambridge. According to the media, part of the energy they use is renewable.

Its contribution to world mining is minor compared to other European countries. For example, Germany contributes 3% of the hash rate and Ireland 1.9%. However, it is much larger than other European nations that barely contribute 0.2% or less. But the overall contribution of the entire old continent is negligible if we compare it with the United States, which contributes 37.84%, or China, with 21.11%.

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Sources: Cointelegraph, CryptoGlobe, Cambridge Reportarchive

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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