Share this article

Norway Considers Backing Swedish Crypto Mining Ban Proposal, Hints Minister

Swedish regulators think crypto mining is impeding the Paris Climate Agreement goals.

Updated May 11, 2023, 7:05 p.m. Published Nov 19, 2021, 10:37 a.m.

Norway is considering a crypto mining ban proposal put forth by two Swedish regulatory officials, Minister of Local Government and Regional Development Bjørn Arild Gram hinted in a Nov. 17 interview with Euronews.

Norway is “currently considering potential policy measures” to address the “challenges related to crypto mining.” In this context, they are “looking at the solutions proposed by the Swedish regulators” with an eye on Europe-wide regulations, Gram said.
In an open letter, officials from two of Sweden’s top regulators called for Europe to ban proof-of-work mining in order to meet the Paris Climate Agreement goals, Euronews reported on Nov. 12.
Gram said that despite the possible long-term benefits of bitcoin, it is difficult to justify the extensive use of renewable energy today.

STORY CONTINUES BELOW

Don't miss another story.Subscribe to the Crypto for Advisors Newsletter today. See all newsletters

By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

Norway Mining Crypto Mining Proof-of-Work Sweden EU

Eliza Gkritsi

Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI, having previously covered mining for two years. She previously worked at TechNode in Shanghai and has graduated from the London School of Economics, Fudan University, and the University of York. She owns 25 WLD. She tweets as @egreechee.