Sweden’s energy minister says the country needs the power currently used by bitcoin miners.
Concerned about projected increase in electricity demand, the government in Sweden may turn its back on crypto mining, the country’s energy minister has indicated. Swedish bitcoin minting industry, a leader in Europe, is likely to soon lose the preferential treatment it has been taking advantage of for some time, a media report revealed.Amid forecasts for growing energy needs in other sectors, Sweden may change its attitude towards cryptocurrency mining.
Farmanbar refrained from revealing what measures the government might impose to restrict mining but two options have been discussed. One is to change the order in which power users are connected to the network, prioritizing those that presumably bring more benefits to the society, such as creating a large number of jobs.
I think the existing tax reliefs should be focused on the activities they were meant to attract in the first place. Mining of cryptocurrencies is more questionable.“I think a lot of public officials including the energy minister who have strong opinions about cryptocurrency and blockchain in general need further education and awareness,” commented Sukesh Kumar Tedla who chairs the Swedish Blockchain Association.
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