Norway

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Norway’s CBDC Timeline Clouded by Expert Committee’s Bold Advice

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A Norwegian expert committee advising lawmakers has recommended no immediate need to adopt a central bank digital currency (CBDC). Despite the declining use of cash, which dropped to just 2% of transactions at physical points of sale during the pandemic, the committee emphasized cash’s importance for secure and inclusive payments. It advised starting work on … Read more

Norway’s Central Bank on CBDC Progress: We’re Not Falling Behind

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Norway’s central bank is on track to decide by 2025 whether to adopt a central bank digital currency (CBDC), but officials stress there’s no urgency. Despite Norway’s cashless society, with only 2% using cash, the bank is carefully studying both retail and wholesale CBDC options, emphasizing complex issues and the need for collaboration with other … Read more

Closure of Bitcoin Mining Center Causes Spike in Power Bills for Citizens in Norwegian Municipality

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The recent closure of a Bitcoin data center in the Norwegian municipality of Hadsel has resulted in power hikes for citizens due to the inability to allocate the energy used by the operation to other purposes. While citizens and Hadsel’s mayor celebrated this development because of the noise emitted by the site, they now face … Read more