In Quebec, Canada, new expectations have been generated in the community of Bitcoin (BTC) miners about possible changes in the regulations of the electrical supply for this activity. That as a result of the elections held this October 1st in the Canadian province did not favor the governing coalition.
Throughout this year, the government of outgoing Prime Minister Philippe Couillard implemented a series of controversial measures that directly affected the Bitcoin (BTC) mining. However, since Monday’s electoral event resulted in the defeat of the ruling Liberal Party, the miners’ community hopes that the new authorities will correct the situation.
Francis Pouliot, CEO of Satoshi Portal and representative of Canadian Bitcoin (BTC) ecosystem, expressed his opinions with the election results on Twitter. In his view, there is “little hope” that the new government will reverse the “infamous regulations and taxes” applied to Bitcoin (BTC) mining.
The Liberal Party will be replaced by Coalition Avenir Quebec (CAQ), a conservative group created seven years ago, focused on job creation and private sector investment. However, CAQ representatives have not yet established an official position on crypto mining. In spite of this, some media reflect that the locals consider that this political platform, elected today, is, in general, the most friendly for the industry.
Controversies over electricity supply for Bitcoin (BTC) mining in Quebec, Canada
Quebec had earned a reputation as a “paradise” for crypto mining activity, thanks to its favorable electricity tariffs, the lowest in North America. Even at the end of last year, the government itself encouraged the installation of mining operations in the region.
However, the reaction of the authorities to the great demand generated by this expectation was to announce the suspension of the distribution of cheap energy to the Bitcoin (BTC) mining companies. In March, Quebec Prime Minister Philippe Couillard himself argued that Bitcoin (BTC) mining does not return any value to society, so his government was not interested in promoting such activity anymore.
In mid-2018, new measures implemented by the official electricity company Hydro-Quebec generated controversies among the Bitcoin (BTC) mining community, as some criteria were established for the distribution of cheap energy to certain companies. These criteria, based on the companies’ investment, were described as “discriminatory” against small Bitcoin (BTC) mining startups.