Norway Considers Backing Swedish Crypto Mining Ban Proposal, Hints Minister

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

By Eliza Gkritsi

Nov 19, 2021 at 10:37 a.m. UTC

Updated Nov 19, 2021 at 10:40 a.m. UTC

Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Follow @egreechee on Twitter

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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.