Can Canada stay a crypto mining hub after Manitoba’s moratorium?
Local stakeholders believe that a crypto mining moratorium might actually mean the beginning of a new dialogue between the government and the industry. Canada has remained a peculiar regulatory alternative to the neighboring United States in regard to crypto currency. While its licensing process has become more stringent than in some countries, Canada was the first to approve direct crypto exchange-traded funds. State pension funds have invested in digital assets, and crypto Mining firms have moved to the country to take advantage of the cool temperatures and cheap energy prices. But the gold rush for miners in Canada may be slowing down. In early December, the province of Manitoba — rich in hydroelectric resources — enacted an 18-month moratorium on new mining projects. This move resembled a recent initiative in the U.S. state of New York that stopped the renewal of licenses for existing mining operations and required any new proof-of-work miners to use 100% renewable energy. Thes...