Switzerland’s Canton Bern Passes Bill To Probe Impact of Bitcoin Mining

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Switzerland's Canton Bern Passes Bill To Probe Impact of Bitcoin Mining

Lawmakers in the Switzerland Canton of Bern have made history by passing a Bill to explore the impacts of Bitcoin mining in the region. Months after the bipartisan effort to drive adoption began, the bill finally passed with a landmark majority. Notably, the Bill has further repositioned Switzerland as one of the most crypto-friendly countries in the EU area.

Bitcoin Mining and Energy Assessment

According to details shared by Member of Parliament Samuel Kullman, the Bill passed with an overwhelming majority in support. The clear verdict had 85 lawmakers in support and 46 against the move.

With the bill passed, the parliament of Canton Bern now demands a report on the potential of Bitcoin mining to stabilize the regions energy grid. In addition to this, the report will also shed insight into the role of the mining venture in the conversion of wasted energy.

In the acknowledgment, Rep Kullman highlighted some members of the community who provided the education to see the Bill through.

Switzerland is a known crypto hub with a high rate of crypto adoption. While the end-goal of Canton Bern regarding the Bitcoin mining report remains unknown, the community is celebrating the spotlight on crypto.

Unlike Germany that sold about 50,000 BTC stash earlier in the year, the push to lead in Bitcoin mining marks a positive regulatory shift in the industry.

Following the Donald Trump Lead

Throughout his Presidential Campaign, Donald Trump has hinted at plans to set up a Strategic Bitcoin reserve for the coin. In addition, he also have plans to lead the country in mining the coin.

While crypto advocates like Chris Giancarlo noted the hurdle in the plan, it has set other countries on positive adoption path. Beyond the United States and Switzerland, El Salvador and the government of Bhutan are actively engaged in Bitcoin mining.

Meanwhile, publicly traded companies are also adopting Bitcoin as a strategic reserve asset. Though MicroStrategy is leading in this regard, Metaplanet, and Semler Scientific have also joined the trend.

The post Switzerland’s Canton Bern Passes Bill To Probe Impact of Bitcoin Mining appeared first on CoinGape.

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