Cointime

Download App
iOS & Android

B.C. Hydro's Moratorium on Crypto Mining Deemed Reasonable by Provincial Supreme Court Judge

A provincial supreme court judge has ruled that British Columbia's provincial power utility, B.C Hydro's, moratorium on crypto mining projects is reasonable. The moratorium was being challenged by Conifex Timber, a forestry company that had planned a mining operation with an indigenous tribe. Justice Michael Tammen stated that B.C. Hydro's ban was grounded on a cost-of-service basis, which aims to preserve affordable energy access for the broader population. Conifex believes that the continued ban is a missed opportunity for the province, while British Columbia is home to a number of zero-carbon footprint mining projects.

Comments

All Comments

Recommended for you

  • d/acc: one year later

    About a year ago, I wrote an article on techno-optimism, describing my general enthusiasm for technology and the massive benefits that it can bring, as well as my caution around a few specific concerns, largely centered around superintelligent AI, and the risk that it may bring about either doom, or irreversible human disempowerment,
  • King Posts of 2024

    The period following the black swan pandemic in 2019-2020 has been marked by social, economic and political uncertainties, disrupting the industries and daily life globally. But, 2024 stands out as the year in which the steel cocoon of this challenging phase began to crack, offering glimpses of renewal on local and global fronts.
  • Ethereum Faces Final Resistance Before $4,000 Amid Increasing Accumulation

    Ethereum (ETH) has broken free from nearly two weeks of consolidation under $3,524, marking a significant price breakout.
  • Hedera (HBAR) Price Faces Mixed Momentum as Traders Eye Key Levels

    Hedera (HBAR) consolidates with a 3.8% weekly gain, but mixed indicators hint at potential trend reversal or continuation.
  • Dennis Porter: At least 13 states are developing “strategic bitcoin reserve” legislation

    Satoshi Action Fund (SAF) co-founder and CEO Dennis Porter stated in a post on X platform that it can be confirmed that at least 13 states are drafting legislation for "strategic bitcoin reserves". January will be a record-breaking month for bitcoin policy.
  • Satoshi Act Fund Co-founder: Another "Bitcoin Strategic Reserve" bill will be launched next week

    Dennis Porter, co-founder and CEO of the Bitcoin advocacy organization Satoshi Act Fund, announced on X platform that the team will launch another "Bitcoin Strategic Reserve" bill next week.
  • Hong Kong's Stablecoin Bill is gazetted and is expected to be submitted to the Legislative Council for first reading on December 18

    On December 6th, according to the Hong Kong Special Administrative Region Government News Bulletin, Hong Kong today published the "Stablecoin Regulation Bill" in the constitutional report to introduce a regulatory system for fiat currency stablecoin issuers in Hong Kong. The "Bill" aims to improve the regulatory framework for virtual asset activities to address the potential risks posed by fiat currency stablecoins to financial stability, ensure that users have sufficient protection, and leverage the benefits of virtual assets and related technologies. Under the proposed licensing system, anyone engaging in any of the following activities must first obtain a license from the Commissioner of Financial Management:
  • Trump: David Sacks will work to establish a legal framework for encryption to ensure that the encryption industry thrives in the United States

    Trump stated in his appointment letter to David Sacks that Sacks will be dedicated to establishing a legal framework that provides clarity to the cryptocurrency industry and enables it to flourish in the United States.
  • Australia’s financial regulator proposes new crypto rules, emphasizing risks and mitigation measures

     Australian Securities and Investments Commission (ASIC) has released a consultation paper suggesting updates to its regulatory guidelines for digital assets, with a focus on compliance requirements under the Corporations Act. The revisions to Information Sheet 225 (INFO 225) include 13 worked examples aimed at clarifying when digital assets qualify as financial products, such as stablecoins, packaged tokens, and staking services. In these examples, ASIC outlines scenarios involving exchange tokens, interest-bearing stablecoins, and tokenized assets such as concert tickets. The draft guidance proposes that classification depends on "inherent rights, interests, expectations, and product features that are offered together with the token." ASIC encourages cryptocurrency companies to apply for an Australian Financial Services License, providing them with a safe harbor from legal action.
  • Russian President Vladimir Putin officially signs digital currency tax law

    Russian President Vladimir Putin has signed a law regulating the taxation of digital currencies. According to the law, digital currencies are recognized as property. This also applies to currencies used for foreign trade payments within the experimental legal framework (EPR) in the field of digital innovation. Mining and sales of digital currencies are exempt from value-added tax. Operators of mining infrastructure must report to the tax authorities issuing cryptocurrencies for using their services. Failure to submit such information on time may result in a fine of 40,000 rubles. In terms of personal income tax, digital currencies obtained through mining will be classified as physical income (usually used when goods or services are paid for instead of currency). The value of the income currency will be determined based on market quotes. Such income will be subject to progressive taxation, taking into account tax deductions for mining costs. At the same time, the acquisition, sale or other circulation of digital currencies will be subject to two-stage personal income tax rates (13% for income up to 2.4 million rubles, and 15% for income exceeding this amount). They will be included in the same tax base as securities, bank deposits, and other sources of transaction income. As for corporate income tax, digital currency mining will be subject to the standard tax rate (25% from 2025 onwards).