Norway could be next to take a page from China and ban mining operations. This Scandinavian nation expressed concern about the possible environmental impacts of crypto mining operations.

Euronews Next reported that Norway has been ranked number one in terms of mining after the Chinese exodus. They are also looking into banning Bitcoin mining.

Bjørn Arild Gram, the minister of local government and regional development, told a local news outlet that the country is mulling over potential policies to “address the challenges related to crypto mining,” adding that it is “difficult to justify the extensive use of renewable energy today.”

Gram referred to a Swedish regulation proposal urging European countries to ban energy-guzzling crypto mining.

While Norway looks to limit crypto mining, another country in Southeast Asia is implementing pro-Bitcoin policies. Lao is a country that is in debt and is trying to make a profit out of the cryptocurrency industry. They have issued new regulations regarding crypto mining activities as well as exchanges.

Earlier this month, the country’s minister of technology and communications published a notice to regulate the operations of crypto miners and exchange platforms. The Laotian Times reported that to allow crypto companies to start operating, they must first make a $5,000,000 security deposit to the Bank of Laos. The company must have enough capital and be 100% Lao-owned to allow them to function.

As for mining companies, they are required to use at least 10 megawatts of power under a six-year extendable contract with the region’s electricity provider. New regulations encourage mining by exempting miners from import and power transmission fees.

El Salvador was the pioneer in Bitcoin adoption at the national level. Many developing countries have turned towards cryptocurrencies to support their development since then. World Bank data shows that Laos ranks among the least developed countries in Southeast Asia. It imposed a ban in 2018 on crypto trading and mining. However, the ban on cryptocurrency trading and mining was repealed in September by new regulations that allowed six firms to offer crypto-related services.

Lao has also given a positive nod towards the cryptocurrency industry and is exploring the possibility for a central bank digital money (CBDC). The government enlisted a Blockchain company last month to examine the issue.

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