Norway’s Proposed Crypto Mining Ban Fails to Gain Parliament Support – Bitcoin News

Most lawmakers have rejected a push to ban energy-intensive proof-of-work mining for cryptocurrencies in Norway. The ban was proposed by the far-left Red Party, which also failed to win support for raising electricity taxes for crypto miners.

Norway will not ban Bitcoin mining

Norway’s parliament has considered and voted against a draft law that would ban the minting of digital currencies based on the proof-of-work concept. The bill was introduced by the Communist Red Party in March and has only the support of two other left-wing parties, the SV (Social Left Party) and the MdG (Green Party).

“We are obviously disappointed with the majority of people here,” Red MP Sofie Marhaug told the E24 news portal. She added that Norwegian society must set its priorities in terms of electricity use. Her party says bitcoin mining is extremely energy-intensive and insists on focusing on the needs of other industries and climate change goals.

However, as Marhaug points out, a majority in the Norwegian parliament wants to prioritize the market and “give the bill to Norway’s electricity consumers”.

Red also failed to win support for a proposal to revise the electricity surcharge for mining data centres, accusing Labour (Ap) and Centre Party (Sp) of breaking pre-election promises. Both parties have announced that they will fight for full electricity bills for the mines.

While households, many businesses and the public sector currently pay 0.15 crowns (about $0.02) per kWh of electricity, industries including data centers enjoy a tax deduction of just 0.0055 crowns per kWh.

In February, the Norwegian government said it would try to avoid a crypto ban, but made it clear that it was considering various measures against the industry’s electricity consumption. Norway in November Admission It is considering ways to limit the environmental impact of bitcoin minting and may support Sweden’s proposal to ban proof-of-work mining in Europe.

“In an age of energy scarcity and the challenge of reducing emissions, it is especially harmful to waste power solely on enriching individuals rather than for social good,” said the three left-wing parties. However, a parliamentary majority opposes politically motivated attacks on mining Discrimination in data centers.

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What do you think of the Norwegian debate on the future of crypto mining? Share your thoughts on the topic in the comments section below.

Lubomir Tasev

Lubomir Tassev, a journalist from tech-savvy Eastern Europe, likes Hitchens’ famous quote: “Being a writer is who I am, not what I do.” Beyond crypto, blockchain and fintech, international politics and The economy is two other sources of inspiration.




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