The Bank of Sweden urged to banning bitcoin The reason for a | Helical Trades
The Bank of Sweden urged to banning bitcoin
The reason for a possible ban would not be "stability risks to the financial system," as in the case of China and Russia, but environmental considerations.
The Swedish Central Bank published a report that shared the results of its research on mining the PoW consensus algorithm.
The Riksbank is calling for a ban on bitcoin and other cryptocurrencies mined on Proof-of-Work because of the impact on the environment.
Although the proposal is unlikely to be adopted anytime soon, the Swedish government has been moving in that direction for some time.
In November 2021, Swedishregulators called for a ban on mining in the EU because of obstacles to compliance with the Paris Agreement on climate change.
If such a bill passes, it could be a severe blow to the price of BTC.
