Swedish Central Bank calls for a proof of work ban

Because of its energy-intensive nature, the Swedish Central Bank requests confirmation of employment ban

This is comparable to a law enacted in New York that also calls for the ban of PoW

As a result, the central bank has received a great deal of criticism

Many Bitcoiners have cited the bank's research titled Cryptocurrencies and their Impact on Financial Stability

Christian Ander, the founder of the BTX Bitcoin exchange, agreed that it was very improper

Christian also stressed the importance of regulating and neutralising energy usage

However, there should be no restrictions on what one may do with it

Another Twitter user, Knut Svanholm, concurred, stating that if central banks care about the environment, they will close their doors

The Swedish Central Bank, Riksbank, issued the study lately, following in the footsteps of other institutions that have also denounced mining

We must all understand that an attack on PoW is the same as an attack against Bitcoin

It is currently the only physical money available to us, and it directly undermines the existing financial structures dictated by these central banks

According to the analysis, Bitcoin mining in North Sweden alone consumes as much energy as 200,000 households on an annual basis