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According to reports, Norway is thinking of accepting the European Bitcoin mining ban. Bjorn Arild Gram, the minister of local government and regional development of Norway, revealed to local media that the country is thinking of using policy measures to help address crypto mining challenges.

Gram revealed that the government is considering a proposal tabled by some regulations, which urged Europe to ban energy-extensive activities related to crypto mining.

Meanwhile, a heavily-indebted Southeast Asian country hopes to gain from the crypto industry amidst the present clampdown in China. They hope to achieve this by providing new regulations regarding crypto exchanges and mining.

According to the Laotian times, earlier in November, the minister of technology and telecommunications of Laos released a notice to regulate crypto trading platforms and miners. This notice demanded that these companies be financially stable and entirely owned by Laos while possessing enough capital for operation. Also, the report states that these companies must deposit $5 million to serve as a security deposit in Laos Bank.

Also, local media reported that mining companies were allowed to use 10 megawatts or more power for six years. This contract with the electricity provider of the country can be extended. These new regulations also provided perks for cryptocurrency miners. It revealed that the government of Norway would exempt import fees and power transmission for all mining operations.

These new rules are coming after Laos permitted six firms to engage in the trading and mining of cryptocurrencies.

 

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