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Sweden’s FSA calls for ‘energy-intensive mining’ of crypto-assets to be ‘prohibited’
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The age-old concerns regarding Bitcoin‘s environmental implications have continued to irk communities and governments across the world. In the latest pushback against Bitcoin mining, the Swedish Financial Supervisory Authority has requested the European Union to enact a blanket ban on cryptocurrency mining which uses the “energy-intensive” proof of work system.
The statement released earlier today was titled, “Crypto-assets are a threat to the climate transition – energy-intensive mining should be banned.” The regulatory body argued that Bitcoin mining activities were proving to be a hindrance in the country’s transition to renewable energy sources.
In the backdrop of growing environmental concerns, the report further noted, “crypto-asset
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