Crypto Miners leave Norway for Sweden due to Removed Energy Subsidy
Norway has cancelled its subsidies for crypto mining rigs. The subsidy is intended to help heavy industry users across many sectors. New legislation excludes crypto miners to benefit from this subsidy which is actually a tax exemption. In Sweden crypto miners still benefit from a similair tax exemption. However, market observers expect miners leave the country for Sweden which could cause the Swedish government to follow Norway’s decision. Bitmain already announced that it abandoned its plan to expand its activities in Norway naming Denmark and Sweden as alternatives.
Gibraltar Blockchain Exchange – World’s First Regulated Exchange?
The Gibraltar Blockchain Exchange, a subsidiary of the Gibraltar Stock Exchange received an official license from the country’s financial authority. The exchange claims to be the world’s first regulated exchange. As the micro-state released new regulation on the crypto sector. However, several exchanges have a claim to this title including globally leading exchanges like Binance, Coinbase etc.
The EU Unveils A Blockchain Association Dubbed As IATBA For Banks
European Union’s executive body, the European Commission, is unveiling a first-of-a-kind Blockchain association. The new group is intended to bring together major banks in the region. This will be vital for fostering cohesion in the region for the development of financial services in cross-border transactions within the member states.
How the Gartner Hype Cycle explains the Current Crypto Market
The Gartner Hype Cycle is a term that explains the reception of new technologies in our society. The market researcher Jackie Fenn invented this model working for the market research company Gartner. Hence the name Gartner Hype Cycle. The Y-Axis of the curve that you can see describes the attention that a technology receives, the X-Axis the time that has passed since the invention of a new technology. It delivers us a good model to understand the current crypto market.