{"id":62774,"date":"2022-06-11T10:48:42","date_gmt":"2022-06-11T07:48:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62774"},"modified":"2025-09-05T19:59:19","modified_gmt":"2025-09-05T16:59:19","slug":"swedens-central-bank-urges-ban-on-bitcoin-for-environmental-reasons","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/swedens-central-bank-urges-ban-on-bitcoin-for-environmental-reasons\/","title":{"rendered":"Sweden&#8217;s central bank urges ban on Bitcoin for environmental reasons"},"content":{"rendered":"<p>Riksbank published a report &#8220;Cryptocurrencies and Their Impact on Financial Stability&#8221;, in which it shared the results of its own study of mining under the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-proof-of-work-pow-algorithm\">Proof-of-Work<\/a> consensus algorithm.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"sv\" dir=\"ltr\">Energi\u00e5tg\u00e5ngen f\u00f6r bland annat <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> har \u00f6kat kraftigt de senaste \u00e5ren. Centre for Alternative Finance vid Cambridge University uppskattar att Bitcoin-n\u00e4tverket har en h\u00f6gre energikonsumtion \u00e4n till exempel Norge. \ud83e\uddf5 1\/4 <a href=\"https:\/\/twitter.com\/hashtag\/Krypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Krypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Riksbanken?src=hash&#038;ref_src=twsrc%5Etfw\">#Riksbanken<\/a><\/p>\n<p>\u2014 Sveriges riksbank (@riksbanken) <a href=\"https:\/\/twitter.com\/riksbanken\/status\/1535191962533474304?ref_src=twsrc%5Etfw\">June 10, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Swedish central bank called for a ban on Bitcoin and other Proof-of-Work-based cryptocurrencies due to environmental impact. According to the document, energy consumption of this mining method is equivalent to that of 200,000 households.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The central bank has no right to tell people what to do with their electricity. If they really cared about the environment, they would shut down their operations tomorrow morning&#8221;, said Cointelegraph Bitcoin maximalist Knut Svanholm.<\/p>\n<\/blockquote>\n<p>In response to the Riksbank&#8217;s tweet, he posted a video about Bitcoin mining, in which it is asserted that the energy used to mine the first cryptocurrency &#8220;is not wasted&#8221;.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"sv\" dir=\"ltr\">Here is a short video I, and some friends, have made on the topic: <a href=\"https:\/\/t.co\/uz4p5Ap7EC\">https:\/\/t.co\/uz4p5Ap7EC<\/a><\/p>\n<p>\u2014 knutsvanholm.com \u221e\/21M (@knutsvanholm) <a href=\"https:\/\/twitter.com\/knutsvanholm\/status\/1535204121854320640?ref_src=twsrc%5Etfw\">June 10, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>BTCX founder Christian Ander also criticised the Riksbank&#8217;s report:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Energy consumption should be neutral; production should be regulated. Do not regulate what people do with it&#8221;.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"sv\" dir=\"ltr\">Publishing this information by the Riksbank is highly inappropriate. Roughly as inappropriate as the FI&#8217;s chief did. Energy consumption should be neutral, production should be regulated. Not regulate what individuals do with it.<\/p>\n<p>\u2014 \ud83c\uddf8\ud83c\uddea Christian Ander | Shadowy Super Green Coder (@nderchris) <a href=\"https:\/\/twitter.com\/nderchris\/status\/1535194837330313218?ref_src=twsrc%5Etfw\">June 10, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In November 2021, Swedish regulators <a href=\"https:\/\/forklog.com\/en\/news\/sweden-calls-for-eu-wide-ban-on-bitcoin-mining\">called for a ban on Bitcoin mining within the EU<\/a> due to obstacles to meeting the Paris Agreement on climate change.<\/p>\n<p>In early June 2022, Ethereum founder Vitalik Buterin <a href=\"https:\/\/forklog.com\/en\/news\/vitalik-buterin-criticises-new-yorks-bitcoin-mining-moratorium\">criticised<\/a> the New York state <a href=\"https:\/\/forklog.com\/en\/news\/new-york-state-senate-backs-two-year-mining-moratorium\">moratorium on mining<\/a> using electricity generated from carbon-based sources.<\/p>\n<p>According to him, authorities should not decide which specific applications may consume energy.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Riksbank published a report &#8216;Cryptocurrencies and Their Impact on Financial Stability&#8217;, in which it shared the results of its own study of mining under the {{AOPEN_1}}Proof-of-Work{{ACLOSE_1}} consensus algorithm.<\/p>\n","protected":false},"author":1,"featured_media":62775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,36,1507],"class_list":["post-62774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-regulation","tag-sweden"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=62774"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62774\/revisions"}],"predecessor-version":[{"id":62776,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62774\/revisions\/62776"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/62775"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=62774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=62774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=62774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}