Norway Minister Proposes Scrapping Reduced Tax Policy For Minors

Cryptocurrency mining surf a large quantity of electricity. And since the crypto industry saw widespread adoption in recent years, it scaled up mining activities likewise, which caused electricity shortages in some countries like Iran and Kosovo.

Similarly, the government of Norway, which is facing the same problems, now plans to remove its previously implied policy to charge crypto data centers with reduced taxes than other industries. The Finance minister of Norway, Trygve Slagsvold Vedum, suggested abolishing the scheme that typically affects Bitcoin mining farms operating within the state.

Minister Urges Crypto Mining Causes Higher Electricity Demand

Citing the rising demand for electricity, the Minister added;

We are in a completely different situation in the power market now than when the reduced rate for data centers was introduced in 2016. In many places, the power supply is now under