tl;dr
The parliament of the Swiss canton of Bern has passed legislation to study Bitcoin mining. The vote was 85 to 48 in favor of the legislation, co-sponsored by members of different political parties. The cantonal government will prepare a report to analyze the potential of Bitcoin mining, including th...
The parliament of the Swiss canton of Bern has passed legislation to study Bitcoin mining. The vote was 85 to 48 in favor of the legislation, co-sponsored by members of different political parties. The cantonal government will prepare a report to analyze the potential of Bitcoin mining, including the use of unused energy and its potential role in stabilizing the energy grid.
The initiative aims to prepare the canton for the digitization of the financial world and to attract Bitcoin-related businesses, citing Bitcoin's fixed supply cap of 21 million coins as an appealing factor.
Samuel Kullmann, a Bitcoin-friendly member of the right-wing populist Federal Democratic Union of Switzerland (EDU) party, confirmed the passing of the legislation. The proposal was co-sponsored by members of various political parties, indicating a nonpartisan effort to explore Bitcoin's potential.
The cantonal government is now tasked with preparing a report to analyze the potential of Bitcoin mining. The canon could potentially utilize unused energy for producing Bitcoin, a practice that is gaining traction globally. Bern will also explore how Bitcoin mining could potentially be used for stabilizing the energy grid.
The proposal is part of the legislative initiatives from the nonpartisan "Parliamentary Group Bitcoin," aimed at ensuring the canton is prepared for the digitization of the financial world. The legislation highlighted that Bitcoin's appeal stems from its fixed supply cap of 21 million coins, making it an interesting alternative as a store of value beyond traditional currency systems.