EU officials considered Bitcoin trading ban to enforce proposed mining ban
Previously unseen documents detailing the EU’s conversations around banning Bitcoin have come to light following a freedom of information request. European Union (EU) officials discussed banning Bitcoin trading during a debate on a proposal to ban Proof of Work mining according to documents obtained through a freedom of information request. According to a report, published by German digital culture organization Netzpolitik, officials from the EU went as far as suggesting that an all out ban on trading Bitcoin (BTC) should be enforced in order to curb its overall energy consumption. The....
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A push to prohibit the energy-intensive proof-of-work mining of cryptocurrencies in Norway has been rejected by the majority of lawmakers. The ban had been suggested by the far-left Red Party which also didn’t win backing to raise an electricity tax for crypto miners.
Norway Will Not Ban Bitcoin Mining
The parliament of Norway has considered and voted against a draft law banning the minting of digital currencies based on the proof-of-work concept. The legislation, which was proposed by the communist Red Party in March, was supported only by two other leftist parties, SV....
Crypto adoption is a hot topic in South Korea, and recent figures have been proving it. However, crypto mining activity is also starting to gather interest across the country, per the latest reports from local media outlets. A Single Rig Should Worth $150 ‘or Less’ to Be Considered for Personal Use According to Kyungin Ilbo, custom officials in one of the biggest ports of South Korea, Incheon, are reporting a boost in mining rig hardware imports. The port is also the most prominent air terminal in the nation. During October 2020 and January 2021, authorities from the Incheon....
Officials with Indonesia’s Commodity Futures Trading Regulatory Agency could implement a rule for two-thirds of directors and commissioners at crypto firms to be citizens. Jerry Sambuaga, the deputy minister of Indonesia’s Ministry of Trade, has proposed a rule that would require the leadership at the country’s crypto exchanges to be more representative of its citizens. In a Tuesday parliamentary meeting that included Indonesian regulatory officials, a letter submitted by Sambuaga suggested several policy changes in response to the “interesting year for the development of physical trading....
The proposed amendment is being carried out to prevent sanctioned countries from taking evasive actions using digital assets. Japan plans to amend its Foreign Exchange and Foreign Trade Act to bring crypto exchanges under the purview of laws that govern banks, a government official revealed on Monday. The proposed amendment is being carried out to prevent sanctioned countries from taking evasive actions using digital assets.Chief Cabinet Secretary Hirokazu Matsuno in a press conference said that the government is planning to introduce a bill to revise the Foreign exchange laws to include....
Alarmed by the rising energy needs of cryptocurrency mining, Sweden’s financial and environmental regulators have recently proposed an EU-wide ban on proof-of-work coin minting. The Swedish officials believe this would encourage a move towards a more energy-efficient extraction of bitcoin while supporting the transition towards climate neutrality in Sweden and Europe. A state-run power company warns, however, that restrictions could have an adverse effect on global carbon emissions.
Expensive Bitcoin Generates More Emissions, Swedish Authorities Allege
The rising value....