Sweden Asked EU to Ban Cryptocurrency Mining

Sweden has asked the EU (European Union) to ban cryptocurrency mining. Sweden cited climate targets as the reason.

In a new statement signed by Swedish Financial Supervisory Board Chairman Erik Thedeen and Environmental Protection Agency Chairman Björn Risinger, it was pointed out that Bitcoin (BTC) and other cryptocurrency mining activities could prevent Sweden and the European Union from reaching the Paris Climate Agreement targets. In a statement, officials said they want the European Union to ban the mining of these "energy-intensive" digital assets. According to the statements, cryptocurrency mining produces up to 120 million tons of CO2 emissions per year. It is emphasized that this number is worth 100 million flights between Sweden and Thailand, and therefore contributes significantly to climate change. Authorities also said that mining Bitcoin (BTC) and Ethereum (ETH) consumes twice as much electricity in a year as Sweden normally uses. In addition; It was pointed out that China's ban led to the migration of miners to Scandinavian countries, and therefore, there was a serious increase in electricity used for mining. Stating that cryptocurrencies are used for illegal purposes, officials said that they do not like the use of renewable resources by miners. At the end of these statements, a call was made to the European Union to ban cryptocurrency mining.