The Norwegian Parliament recently voted on a bill that would effectively allow mining of cryptocurrencies such as bitcoin (BTC) would curb. However, a majority of parliamentarians voted against and so a bitcoin mining ban in Norway is off the map for the time being.
The proposal to ban bitcoin mining was the idea of the Red Party, a communist party, in Norway. The bill actually only had the support of left-wing parties in the Norwegian parliament and thus the bill was rejected by parliament†
According to a researcher at Arcane Research, Jaran Mellerud, this is a major setback for those who would have liked to see a ban on mining, he reports. at Cointelegraph† Nevertheless, the battle is not over yet. Mellerud states that the parties behind the bill will take other measures in the future to ban mining from the country.
“Now that they have lost this vote, these political parties will probably make one more attempt at raising the energy tax specifically for miners, which is now their only remaining tool in the toolbox for making miners’ lives difficult.”
Norway and bitcoin mining
Despite the fact that political parties in Norway are doing everything they can to bitcoin mining To tie the knot, the mining industry in Norway seems to be flourishing lately. Meanwhile, miners in Norway are already responsible for at least 1% of the total computing power of the Bitcoin network.
This is largely because green electricity is available in abundance in Norway. Especially in the north of Norway, almost all energy is generated using sustainable methods. In addition, the costs for electricity are also relatively low. All these things combined make Norway an attractive option for bitcoin miners. Mellerud argues that it is therefore a good thing that the ban did not get off the ground.
“Fortunately, they have not been successful, and this government decision not to ban bitcoin mining should be the final nail in the coffin for their efforts to get rid of the industry.”