The high power consumption of cryptocurrency mining in Norway has led the government to consider a temporary ban on the activity.

Due to the impact of crypto mining on the energy sector, the government will start an extensive investigation next fall that could trigger a temporary suspension.

The Nordic country’s authorities have also announced that they will assess “whether this activity compromises the electricity supply necessary for essential sectors of the economy and the general population.”

The government has the power to suspend crypto mining if the activity creates critical situations that put maximum strain on the electrical grid, according to the Planning and Building Act.

M.Pino

Source: cripto247

(Reference image source: Kanchanara on Unsplash)

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La entrada Norway considers suspending crypto mining due to high power consumption apareció primero en Bitfinance.

The Central Bank of Norway is studying the measures necessary for the country’s financial stability, including the launch of a CBDC that would contribute to improving cross-border payments.

Although the nation has given its support to the Markets in Cryptoassets Regulation (MiCA), it is currently analyzing a project on additional regulations to promote financial stability, led at the Central Bank by Kjetil Watne.

Watne has stressed that the bank has not yet made a decision but “is evaluating how to mitigate regulatory gaps related to decentralized finance.”

The project director has indicated that the Central Bank sees central bank digital currencies as a tool to improve cross-border transactions, without replacing fiat money or cash payments.

Support for MiCA but with caution

The European Union’s MiCA regulation comes into force on December 30. In this regard, its implementation could pose systematic risks for stablecoin reserves, according to Paolo Ardoino, CEO of Tether.

“Under MiCA, stablecoin issuers will be required to hold a significant portion of their reserves, at least 60 %, in European banks, which creates a concern regarding lending,” Ardoino stresses, noting that the MiCA requirements “could create significant points of vulnerability for reserves if a bank holding them goes bankrupt” considering that banks can lend up to 90% of their reserves.

M.Pino

Source: cointelegraph

(Reference image source: Sandro Kradolfer in Unsplash)

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La entrada Norway is considering launching a CBDC to stabilize its economy apareció primero en Bitfinance.

This Monday, the Norwegian government confirmed that the ruling party and the Venezuelan opposition decided to resume political dialogue and negotiation this Tuesday, October 17.

Both representations resumed negotiations in August 2021, but they were suspended in November 2022. Norway has confirmed the willingness of both parties to find solutions that adhere to the constitutional order, and free presidential elections are achieved in 2024.

It is important to remember that Venezuela is currently facing pressure from the United States, due to the sanctions imposed by that nation, regarding the government of Nicolás Maduro establishing the conditions guaranteeing free elections.

Another important fact is that the decision between the opposition and the ruling party to resume talks occurs a few days before the opposition primary elections, scheduled for next Sunday, the 22nd.

The Norwegian government made public the statement from the Maduro government, which indicates the decision of both parties to “resume the process of dialogue and negotiation” facilitated by Norway, “with the objective of reaching a political agreement.”

El anuncio conjunto de las partes del proceso de diálogo y negociación de #Venezuela pic.twitter.com/rtCRivFrnp

— Noruega en MX y CA (@NoruegaMexCA) October 16, 2023

M.Pino

With information from national and international media and social networks

(Reference image source: @unionradionet, social network X)

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La entrada Venezuelan official party and opposition resume dialogue in Barbados apareció primero en Bitfinance.

Representatives of the government of Nicolás Maduro and the Unitary Platform of Venezuela resumed this Saturday the dialogue and negotiation process at the Hotel Sufitel in Mexico City, facilitated by Norway, where the parties signed the Second Partial Agreement for the Protection of the Venezuelan People.

The head of the Venezuelan government delegation, Jorge Rodríguez, highlighted at the signing that “today we have signed a historic agreement due to the importance of its political significance, for the good living of the Venezuelan people.”

In this sense, Rodríguez thanked Norway for its “efficient and discreet facilitation in these dialogue sessions”. At the same time, he thanked the Mexican people, and Mexico City, which “has welcomed us with great solidarity and kindness.”

For its part, the delegation of the Unitarian Platform expressed that the agreement seeks to address the “humanitarian crisis” that Venezuelans are going through. They also agreed to request the establishment of a “fund administered by the United Nations, under a programmatic framework of projects and works recommended by recognized experts, which guarantees transparency in the execution of these funds.”

In addition, the opposition Platform stressed that “negotiation is not the solution, but it is a tool that allows signing agreements for the benefit of Venezuelans”.

La firma del segundo acuerdo parcial entre el Gobierno Bolivariano que presido y la Plataforma Unitaria de una de las oposiciones, abre paso a un nuevo capítulo para Venezuela, en función de seguir avanzando hacia la Paz y el bienestar que todas y todos los venezolanos anhelamos. pic.twitter.com/PcVeXKlDbM

— Nicolás Maduro (@NicolasMaduro) November 26, 2022

Much of the entire world expressed pleasure and satisfaction at this social agreement

It should be noted that the European Union, together with the United States, the United Kingdom and Canada, issued a statement in which they expressed their satisfaction with the social agreement in Venezuela.

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With information from DobleLlave

La entrada Venezuelan government and opposition reached an agreement apareció primero en Bitfinance.

Germany’s gas storage facilities are 90.07 %, despite Russia cutting off gas supplies since late August, data from European operators shows.

On Monday night, the level had increased by 0.32 percentage points from the previous day. Level data is always communicated with a delay.

Germany had stipulated through a ministerial decree that storage facilities must be at least 95 % full by November 1st. The amount of gas stored at this level roughly corresponds to national consumption in January and February 2022.

The deposits compensate for fluctuations in consumption and therefore constitute a kind of buffer system for the gas market. They are usually well filled at the beginning of the heating season in the European autumn. Then they decrease until spring. On cold winter days, up to 60 percent of the gas consumption in Germany is covered by the country’s storage facilities.

Germany takes action as winter approaches

The government wants to take various measures to make them as full as possible at the beginning of the heating season, to better cope with the total loss of Russian supplies in winter.

Currently, Germany receives natural gas through pipelines from Norway, the Netherlands and Belgium. At the end of the year, the first two liquefied natural gas (LNG) landing terminals will be commissioned on the German North Sea coast.

The fill level of Germany’s largest storage facility, located in Rehden, in the state of Lower Saxony, is currently below 75 %. Due to scheduled maintenance of this warehouse, no more gas has been injected or withdrawn since last Monday. The maintenance is scheduled to last until next Saturday.

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Source: dpa

La entrada German gas tanks are 90 % full despite lack of Russian gas apareció primero en Bitfinance.

The Norwegian Central Bank recently published an open source code for the ethereum network sandbox, and the implementation of a local digital currency.

The sandbox available on GitHub will enable features such as minting, burning, and transferring ERC-20 tokens, as stated by Norges Bank’s official CBDC partner, Nahmii.

Nahmii stressed that the current version of the code is not compatible with the main ethereum wallet, MetaMask, by design, and is only accessible privately by users with the proper credentials.

The central bank had already made reference to ethereum in a CBDC-related blog post in May. Norges Bank stated that the ethereum cryptocurrency system is expected to provide a “core infrastructure” for the issuance, distribution and destruction of central bank digital money, which is also called DSP. “The prototype will be used to test a number of important features for DSP.”

K. Tovar

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Source: Cointelegraph

La entrada Norway bets on the use of ethereum apareció primero en Bitfinance.

Norway will regulate bitcoin mining. Bjorn Arild Gram, minister of local government and regional development, expressed, during a meeting with the media, that his country is considering the possibility of supporting a European ban on energy-intensive crypto mining activities.

According to Gram, Norway is currently analyzing possible policy measures that allow it to “address the challenges related to crypto mining” and that it is “difficult to justify the extensive use of renewable energy today”.

The country is concerned about the environmental damage that crypto mining can cause, but is losing its attractiveness as a destination for Chinese miners. On the other hand, other countries are willing to provide the legal conditions for these types of activities to take place within their borders. One of them is El Salvador, which wants to take advantage of volcanic energy to promote these actions.

New frontiers for bitcoin mining

Laos is a small country located in Southeast Asia that is in debt and is considering the crypto market as a great opportunity for its development. In 2018, it established a rule that prohibited crypto assets. But at the beginning of September of this year it was repealed and authorized six companies to trade and extract cryptocurrencies.

Laos’ minister of technology and communications made a publication where he stipulated some rules and principles that would facilitate the regulation of crypto miners and trading platforms.

Among the established measures, it stands out that companies must be wholly owned by Laos citizens, be financially strong, have enough capital to operate and also make a deposit of 5 million dollars in the Bank of Laos as a security deposit.

M.Rodríguez

Source: diariobitcoin.com

La entrada Norway to regulate bitcoin mining apareció primero en Bitfinance.

The Government of Venezuela and the opposition confirmed this Sunday that they held “constructive meetings” over the weekend within the framework of a dialogue process that began last Friday and announced its continuation for next September 3.

In a statement shared by the Norwegian Foreign Ministry as the facilitating country of these meetings, both parties wanted to show “the follow-up” of the memorandum of understanding that they signed at a public event at the National Museum of Anthropology in Mexico, the country where they have been held out these encounters.

“Following up on the memorandum of understanding signed on August 13 in Mexico City, the Government of Venezuela and the Unitary Platform, we confirm that we have held constructive meetings with the facilitation of the Kingdom of Norway on August 14 and 15“, they indicated.

Likewise, they have referred to the point of this memorandum on “the importance of inclusion” in the dialogue, for which they have reported that they have discussed “the establishment of a consultation mechanism with political and social actors“.

On the other hand, they reiterated “their commitment” to the method established in the document as well as with “the utmost caution regarding the reservation and comments” of the process, for which they have communicated that, in light of this, they will be “prudent and concise.”

The memorandum of understanding establishes that the dialogue and negotiation process will be based on several points, among which the lifting of sanctions and the restoration of rights, the electoral guarantee, political coexistence, the renunciation of violence and the protection of the economy stand out.

The dialogues are led by the Government of the president, Nicolás Maduro, and the Unitary Platform, made up of four opposition parties, including Primero Justicia, led by Henrique Capriles; and Voluntad Popular, by Leopoldo López and Juan Guaidó.

K. Tovar

Source: CNN

La entrada Venezuelan government and opposition began “constructive” dialogue apareció primero en Bitfinance.