Sweden proposes to ban bitcoin mining

The Swedish Central Bank (Riksbank) is demanding that bitcoin not be accepted in the country, worrying about financial stability and the environment.

The Central Bank published a report “Cryptocurrencies and their impact on financial stability”, which presented the results of its own study of mining with proof of work (PoW). The report argues that cryptocurrencies obtained in this way should be banned in the country, as PoW is an energy-intensive method that affects the environment.

According to the report, Sweden now has cryptocurrency production, which consumes as much electricity as 200,000 households a year. The document rejects the very possibility of adopting BTC in the country, despite the fact that Sweden is a haven for many bitcoin startups.

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