- French lawmakers reject proposal to study Bitcoin mining for surplus energy use.
- The amendment blocked on procedural grounds, not the idea of crypto mining itself.
- France stays cautious on Bitcoin mining despite global interest and innovation.
The French National Assembly has rejected a proposal to study Bitcoin mining as a possible use for surplus electricity. The idea was introduced by 123 members of the National Rally party. They had filed the proposal on the backing of Adan, a French group in the digital asset industry.
France Maintains Cautious Stance on Crypto Despite Global Interest
The idea of the proposal was not to launch a state-level mining of Bitcoins. Rather, it set out to contract a report. In this report, it would be investigated whether Bitcoin mining can be used to regulate surplus electricity, normalize power grid, and optimize utilization of nuclear energy. The Assembly however did not proceed with the proposal.
The amendment was found unacceptable. It was refused at Article 98 of the Rules of Procedure of the National Assembly. In this article, procedural issues are addressed. In the case, the amendment was held by the Assembly not to be closely related with the major bill to which it was attached. It is referred to as a legislative rider and it is usually turned down.
Because of that, the proposal content was not discussed in detail. It was rejected on the basis of technical things, not its ideas. This translates to the fact that the matter might still be researched in the future using another measure or suggestion. But, at the moment, the problem is not actively investigated by the majority of legislators.
To date, the French government has been reluctant to cryptocurrencies. The preceding regimes have repeatedly complained about the environmental impact of crypto. Bitcoin mining, especially for consuming huge amounts of energy, is criticized. At the same time, this is unlikely that in the nearest future France may think of mining as an option of overcoming energy surplus.
Mining Bitcoins with unutilized electricity is not a novel concept. It has already been tested in some sections of the world. The only governments that mine Bitcoin officially are El Salvador and Bhutan. Mining has also interested other countries such as Russia. Russia is even contemplating federal laws. Still, there are not many nations that mine Bitcoin.
France Rejects Crypto Mining Amid Public and Political Hesitation
Bitcoin mining is a process where computers solve complex problems to validate transactions. It consumes huge quantities of electricity. Some thinkers believe that in those countries, where there is additional energy either renewable or nuclear, mining may come in handy. It would utilize otherwise wasted energy, and generate income.
However, in France, this concept experiences numerous difficulties. The level of environmental distresses is high and there is a negative interest of the people. Parents also lack political support of the activities related to crypto on the national level.
Conclusively, the French National Assembly decided not to proceed with a proposal that considers Bitcoin mining as a way of exploiting energy overflow. The moving was refused upon procedure rather than on the ground of the matter. This opens avenues to further discussions. However, currently, France is not prepared to think about Bitcoin mining in its agenda.
The post France Rejects Proposal to Study Bitcoin Mining for Energy Surplus appeared first on Live Bitcoin News.
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