Gabung/ Daftar

Supreme Court of British Columbia Upholds Ban on Crypto Mining

06/02 15:50

According to CoinDesk: Canada's Supreme Court of British Columbia has upheld a previously enacted ban on cryptocurrency mining in the province, viewing the moratorium as reasonable, non-discriminatory, and in line with the province's Public Utilities Commission Act. As initially reported by CoinDesk on February 6, 2024, the ruling was made following objections from Conifex Timber, a forestry company with plans to branch out into cryptocurrency mining. Justice Michael Tammen, who presided over the case, stated that B.C. Hydro's ban was based on maintaining affordable energy access for the wider public due to the unique, significant energy demands posed by cryptocurrency mining operations. He noted that power requests from cryptocurrency operations for 2023 would have far exceeded BC Hydro's projections. Conifex, which was planning a mining venture with the indigenous Tsay Keh Dene Nation, expressed disappointment in the continuation of the ban, stating it represented a missed opportunity for the province in terms of energy affordability, technological innovation, grid reliability, and inclusive economic growth. This ruling comes amidst global concerns about the environmental impact of cryptocurrency mining, particularly in areas like British Columbia, which hosts several zero-carbon footprint mining projects that operate off-grid.

Bullish

Kasar