Norway is on track to establish Europe’s first regulated data center industry, aiming to differentiate between socially beneficial centers and those that harm the climate through crypto-mining. This initiative involves creating separate categories for these centers. 
Trade and Industry Ministers Karianne Tung and Terje Aasland are pressing through new legislation that forces data centers to reveal more detailed information about services they offer. The authority given to municipalities to design a suitable location and grant a permit for data centers is an essential part of the selection. 
The <a href="https://www.mobileeurope.co.uk/government-plans-to-stop-cryptocurrency-mining-in-norway/" target="_blank" rel="noopener">measure </a>being taken is an initiative by the government that has been formed considering the massive eminent from crypto-mining projects.&nbsp; Ministry Tung clarified that the government intends to ‘shut the doors’ of this class of projects only if they are equipped with a minimum social asset. Numerous factors are contributing to digitalization with the role of data as one of the most important factors.&nbsp;Also in related news, Hong Kong’s Securities &amp; Futures Professionals Association (HKSFP),&nbsp; is in <a href="https://www.cryptotimes.io/2024/04/23/hong-kong-officials-urge-self-regulation-in-crypto-industry/">favor </a>of the self-regulation of the crypto sector. This recommendation argues for the space for self-regulatory committees to be created to oversee development, with the Hong Kong government balancing surveillance and development.

Norway to Introduce Regulated Data Centre Law

The Crypto Times

Other articles published on May 10, 2024

Crypto Exchanges Experience First Decline In Trading Volume In 7 Months: Implications Explored

The Rise in Artificial Intelligence Projects Continues! Which Coins Have Positively Diverged from...

TON Phishing Message Scam Lures Users with 5000 USDT Offer

XRP price prediction: can this AI Telegram trading bot outperform it?

Deutsche Bank Issues Major Stablecoin Warning

Crypto Giants FTX and Alameda Research in $97M Sell-Off Frenzy: What’s Next for Investors?

Join our free newsletter for daily crypto updates!