Canada: Quebec province halts crypto mining projects - Reuters

Eren Sengezer FXStreet

Canada's Quebec province on Thursday announced that it would not give approvals to any new cryptocurrency mining projects to go online until it set a new set of rules, which could include higher energy consumption fees and requirements on job creation, as reported by Reuters.

Following the announcement, Quebec's government-owned electricity provider, Hydro Quebec issued a statement that read, "will ask the province's energy board to quickly determine how much it should charge digital currency miners, and determine how much energy should be allocated to the industry while addressing the need to maximize revenues and job creation."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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