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."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.