Norway is on track to establish Europe’s first regulated data center industry, aiming to differentiate between socially beneficial centers and those that harm the climate through crypto-mining. This initiative involves creating separate categories for these centers.
Trade and Industry Ministers Karianne Tung and Terje Aasland are pressing through new legislation that forces data centers to reveal more detailed information about services they offer. The authority given to municipalities to design a suitable location and grant a permit for data centers is an essential part of the selection.
The measure being taken is an initiative by the government that has been formed considering the massive eminent from crypto-mining projects. Ministry Tung clarified that the government intends to ‘shut the doors’ of this class of projects only if they are equipped with a minimum social asset. Numerous factors are contributing to digitalization with the role of data as one of the most important factors. Also in related news, Hong Kong’s Securities & Futures Professionals Association (HKSFP), is in favor of the self-regulation of the crypto sector. This recommendation argues for the space for self-regulatory committees to be created to oversee development, with the Hong Kong government balancing surveillance and development.
