Quebec Halts Establishment of New Crypto Mining Firms, Considers Restrictions

[kreslik.news]

Months after being identified asa hotspot for crypto miners, the Canadian province of Quebec suspended approvals for any new cryptocurrency mining projects on Thursday, June 6. The province may resume acceptance of new crypto mining projects after it has taken the necessary time to consider placing restrictions on their operations and raise electricity rates.

In a statement, Quebec Energy Minister Pierre Moreau said that the new rules are intended to welcome only “the best among the [crypto mining] companies” to the province; Hydro-Québec Distribution President Eric Filion stated that the rules are intended to protect Quebec ... (read more)