- Govenment in Norway will be ending the power subsidy that was offered to miners.
- From Janaury 2019, regular electricity tax will be required to be paid by the miners going forward.
The Norwegian government acted to stop the power subsidy that had initially been facilitated for bitcoin miners, according to local press, Aftenposten.
Within the government’s state budget, it detailed that regular electricity tax would be levied on cryptocurrency miners. This will be effective from January 2019.
The proposal of a subsidy is set to come to an end. After initially reportedly made by the Norwegian Tax Administration.
A parliamentary representative from the Norwegian government, Lars Haltbrekken, said:
“Norway cannot continue to provide huge tax incentives for the most dirty form of cryptographic output like bitcoin. It requires a lot of energy and generates large greenhouse gas emissions globally.”
See the latest technical analysis article on BTC/USD.
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