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 But at the beginning of September of this year it was repealed and authorized six companies to trade and extract cryptocurrencies.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.