Xarabek
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
    • DeFi
  • Learn
    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Best Crypto Exchange Affiliate Programs in 2023

    Best Crypto Exchange Affiliate Programs in 2023

    What does Crypto Index fund Means and How to Invest?

    What does Crypto Index fund Means and How to Invest?

    Who Will Reach $1 First In 2023?

    Who Will Reach $1 First In 2023?

    5 Best New BSC Cryptocurrencies To Invest In 2023

    5 Best New BSC Cryptocurrencies To Invest In 2023

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

  • Analysis
    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

    Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

    Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

    Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout

    Ethereum Price Another Rejection Signals Risk of Bearish Reaction

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Rallies 10%, Polygon Bulls Aim Big

    Rallies 10%, Polygon Bulls Aim Big

    XRP Whales Accumulate Massive Tokens

    XRP Whales Accumulate Massive Tokens

    Solana Rally Could Gather Pace above $30

    Solana Rally Could Gather Pace above $30

    BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

    Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

  • Play2Earn
    Hunters On-Chain Final Genesis Hunter T1 Mint

    Hunters On-Chain Final Genesis Hunter T1 Mint

    Mint a Free Character NFT for Tearing Spaces

    Mint a Free Character NFT for Tearing Spaces

    Blast Royale Free Mint March 27th

    Blast Royale Free Mint March 27th

    Yuga Labs Announces Second Trip to the Otherside

    Yuga Labs Announces Second Trip to the Otherside

    Voxie Tactics Adds Training Mode

    Voxie Tactics Adds Training Mode

    Mocaverse Reveals Moca NFTs and Experience System

    Mocaverse Reveals Moca NFTs and Experience System

    Imposters Beta Playtest – Play to Earn

    Imposters Beta Playtest – Play to Earn

    Spider Tanks Game Update and Gen2 Tanks

    Spider Tanks Game Update and Gen2 Tanks

    Immutable Announces Partnership with Polygon

    Immutable Announces Partnership with Polygon

  • Investment
    • subscription packages
  • Strategy
  • Market Cap
  • Tutorial
  • Shop
No Result
View All Result
Xarabek
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
    • DeFi
  • Learn
    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Best Crypto Exchange Affiliate Programs in 2023

    Best Crypto Exchange Affiliate Programs in 2023

    What does Crypto Index fund Means and How to Invest?

    What does Crypto Index fund Means and How to Invest?

    Who Will Reach $1 First In 2023?

    Who Will Reach $1 First In 2023?

    5 Best New BSC Cryptocurrencies To Invest In 2023

    5 Best New BSC Cryptocurrencies To Invest In 2023

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

  • Analysis
    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

    Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

    Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

    Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout

    Ethereum Price Another Rejection Signals Risk of Bearish Reaction

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Rallies 10%, Polygon Bulls Aim Big

    Rallies 10%, Polygon Bulls Aim Big

    XRP Whales Accumulate Massive Tokens

    XRP Whales Accumulate Massive Tokens

    Solana Rally Could Gather Pace above $30

    Solana Rally Could Gather Pace above $30

    BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

    Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

  • Play2Earn
    Hunters On-Chain Final Genesis Hunter T1 Mint

    Hunters On-Chain Final Genesis Hunter T1 Mint

    Mint a Free Character NFT for Tearing Spaces

    Mint a Free Character NFT for Tearing Spaces

    Blast Royale Free Mint March 27th

    Blast Royale Free Mint March 27th

    Yuga Labs Announces Second Trip to the Otherside

    Yuga Labs Announces Second Trip to the Otherside

    Voxie Tactics Adds Training Mode

    Voxie Tactics Adds Training Mode

    Mocaverse Reveals Moca NFTs and Experience System

    Mocaverse Reveals Moca NFTs and Experience System

    Imposters Beta Playtest – Play to Earn

    Imposters Beta Playtest – Play to Earn

    Spider Tanks Game Update and Gen2 Tanks

    Spider Tanks Game Update and Gen2 Tanks

    Immutable Announces Partnership with Polygon

    Immutable Announces Partnership with Polygon

  • Investment
    • subscription packages
  • Strategy
  • Market Cap
  • Tutorial
  • Shop
No Result
View All Result
Xarabek
No Result
View All Result

Sweden’s FSA calls for ‘energy-intensive mining’ of crypto-assets to be ‘prohibited’

2021-11-06
in Ethereum
0
Sweden’s FSA calls for ‘energy-intensive mining’ of crypto-assets to be ‘prohibited’
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

The age-old issues relating to Bitcoin‘s environmental implications have continued to irk communities and governments the world over. Within the newest pushback towards Bitcoin mining, the Swedish Monetary Supervisory Authority has requested the European Union to enact a blanket ban on cryptocurrency mining which makes use of the “energy-intensive” proof of labor system.

The statement launched earlier at this time was titled, “Crypto-assets are a risk to the local weather transition – energy-intensive mining needs to be banned.” The regulatory physique argued that Bitcoin mining actions had been proving to be a hindrance within the nation’s transition to renewable vitality sources.

Within the backdrop of rising environmental issues, the report additional famous, “crypto-asset producers are eager to make use of extra renewable vitality, and they’re growing their presence within the Nordic area.”

“Sweden wants the renewable vitality focused by crypto-asset producers for the local weather transition of our important companies, and elevated use by miners threatens our skill to fulfill the Paris Settlement. Vitality-intensive mining of crypto-assets ought to subsequently be prohibited.”

The assertion additional questioned the social advantages of crypto belongings by asserting that,

“The patron dangers are important, and crypto-assets are generally used for legal functions resembling cash laundering, terrorist financing, and ransomware funds.”

It additionally added,

“That is alarming, and crypto-assets, subsequently, should be regulated.”

Citing a report by Digiconomist, the report revealed that mining operations for BTC and ETH collectively use round twice as a lot electrical energy in a single 12 months as the entire of Sweden. It additional compiled a comparability of Bitcoin’s annual carbon footprint to showcase the ESG issues to be bigger than simply excessive vitality consumption.

Supply: Digiconomist

The monetary watchdog’s assertion concluded by asserting the necessity to implement coverage measures- “to deal with the harms brought on by the proof of labor mining methodology.” These included an EU-level ban on the mining of cryptocurrencies that use the proof of labor system.

You might also like

Polygon zkEVM Mainnet Beta in operation; Vitalik launches first live transaction

Ethereum suffers yet another weekly outflow, but how did BTC perform

Ethereum [ETH] whales play ‘shy guy’ ahead of Shanghai Upgrade

Moreover, it proposed that nation ought to prohibit the “continued institution of crypto-mining manufacturing” utilizing PoW. It additionally recommended that corporations that commerce or put money into PoW crypto belongings be prohibited from declaring themselves to be sustainable.

After China’s blanket ban on cryptocurrency mining earlier this 12 months, miners have scrambled to arrange store elsewhere with the USA coming to their immediate rescue. Nevertheless, like Sweden, environment-conscious teams have raised issues towards the identical.

Lately, companies in New York have reached out to the state’s governor to disclaim permits to the conversion of NYC’s fossil gasoline vegetation into crypto mining facilities, citing environmental issues.

Furthermore, legislators within the state are additionally considering a invoice banning the usage of fossil fuels to mine Bitcoin and are calling for miners to doc their carbon footprints.

Source link

Tags: callscryptoassetsenergyintensiveFSAminingprohibitedSwedens
Share30Tweet19

Recommended For You

Polygon zkEVM Mainnet Beta in operation; Vitalik launches first live transaction

2023-03-28
0
Polygon zkEVM Mainnet Beta in operation; Vitalik launches first live transaction

The Polygon crew formally deployed the zkEVM Mainnet for public use.  Ethereum’s Vitalik Buterin made the primary transaction on the community as over 50 tasks have been in...

Read more

Ethereum suffers yet another weekly outflow, but how did BTC perform

2023-03-27
0
Ethereum suffers yet another weekly outflow, but how did BTC perform

Ethereum outflows have been on the excessive aspect however Bitcoin shied away from an analogous destiny. Different altcoins joined the BTC development however traders remained cautious of ETH....

Read more

Ethereum [ETH] whales play ‘shy guy’ ahead of Shanghai Upgrade

2023-03-27
0
Ethereum [ETH] whales play ‘shy guy’ ahead of Shanghai Upgrade

Holders of 10,000 to 1,000,000 ETH cash have lowered their holdings within the final month. Lengthy-held ETH cash change arms because the Shanghai Improve attracts nearer. Forward of...

Read more

Ethereum sees some whale and retail demand, but here’s the issue

2023-03-26
0
Ethereum sees some whale and retail demand, but here’s the issue

ETH sees demand from whales and retail traders however in low volumes. ETH TVL in Ethereum 2.0 soars to new ATH. The Ethereum community’s subsequent main improve dubbed...

Read more

I asked ChatGPT Ethereum’s December 2023 price prediction, it said…

2023-03-26
0
I asked ChatGPT Ethereum’s December 2023 price prediction, it said…

Generally, I’m a fan of the favored saying- Not by energy, not by would possibly. Different instances, I’m not. Now, I’m not making an attempt to dismiss your...

Read more
Next Post
Squid Game: crypto researcher reveals the red flags investors missed

Squid Game: crypto researcher reveals the red flags investors missed

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

Ehtereum (ETH) Price Looks Exhausted Near $3,200, Is Upside Over!

Ethereum (ETH) Price Prediction: Is ETH Heading Toward January Lows!

2022-02-19
Ethereum overtakes reigning champion Cardano in terms of…

Ethereum overtakes reigning champion Cardano in terms of…

2022-08-23
Two Months Of Extreme Fear Leaves Crypto In Panic, Bitcoin At $20K

Two Months Of Extreme Fear Leaves Crypto In Panic, Bitcoin At $20K

2022-06-22

Browse by Category

  • Altcoins
  • Analysis
  • Bitcoin
  • Crypto
  • DeFi
  • Education
  • Ethereum
  • Investment
  • Learn About Crypto
  • NC
  • NFT
  • Play2Earn
  • Strategy
  • Uncategorized

ABOUT US

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Investment, Market, and more.

Referall

https://bit.ly/2Y2f9sP

CATEGORIES

  • Altcoins
  • Analysis
  • Bitcoin
  • Crypto
  • DeFi
  • Education
  • Ethereum
  • Investment
  • Learn About Crypto
  • NC
  • NFT
  • Play2Earn
  • Strategy
  • Uncategorized

NEWSLETTER

  • Contact
  • Terms & Conditions
  • Privacy Policy

© 2021 Xarabek - All rights reserved

No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
    • DeFi
  • Learn
  • Analysis
  • Play2Earn
  • Investment
    • subscription packages
  • Strategy
  • Market Cap
  • Tutorial
  • Shop

© 2021 Xarabek - All rights reserved

  • RelevantRelevant(REL)$0.825.35%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • B20B20(B20)$0.4507925.62%
  • BitballBitball(BTB)$0.0019770.37%
  • CornichonCornichon(CORN)$0.073096-0.86%
  • MoonToolsMoonTools(MOONS)$13.810.00%
  • StacyStacy(STACY)$0.0007100.00%
  • Lunch MoneyLunch Money(LMY)$0.0004180.00%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003679-6.88%