Cryptocurrency miners in a sleepy backwater have been handed a ban because they are too noisy and eat up too much electricity.
The 12-month ban was slapped on while town officials in the US state of Washington look for a compromise between residents and miners.
People living in Ephrata and the surrounding area say the 24-hour background noise from the mining operations was constantly like listening to the roar of the sea.
Miners love the area because of the abundance of cheap hydroelectricity need to run their massive server farms, mainly prospecting for Bitcoin.
Officials say the miners are draining the power grid without adding value to the town as their operations bring no jobs.
Hiking the bill for electricity is one option the town is considering.
“Economics will be the deciding factor,” said councillor Matt Moore. “If this is an economical business, and this is one of the ideal places to situate it, I don’t want to surrender any economic opportunity big or small.”
Experts fail their crypto exams
Shocked cryptocurrency regulators on the Mediterranean island of Malta have revealed two out of three candidates failed their certification exam.
The pass mark was just 39% from around 250 lawyers, accountants and auditors hoping to qualify under the country’s Virtual Finance Assets Act.
The licence is required for anyone acting as a cryptocurrency agent under the act if they are trading cryptocurrency, managing initial coin offerings or providing investment advice.
From November, anyone engaged in these activities must hold a licence.
“It has also become evident that certain industry players are not sufficiently prepared to register as VFA agents,” said regulator the Malta Financial services Authority.
Young adults favour crypto investments
Cryptocurrency is a good investment, according to a poll of young German adults.
One in three favour cryptocurrency as an investment, says the survey by Postbank.
Half of 18 to 24 year olds confirmed they are considering digital currency trading and 14% expect to plunge into the market with 12 months.
A fifth expressed excitement at investing in cryptocurrency, with 56% of men rating the high returns as attractive, compared to 36% of women, while 29% of the group claimed they were cryptocurrency experts.
The age group makes up 8% of the German population.