EU Vote on Bitcoin Mining – What Does it Mean for the Industry?

It seems Proof-of-Work mining won’t be “banned” this year by the EU but it does seem the EU (for nefarious reasons) does have a hard-on to usher-in PoS. The EU is going to find themselves (once again) on the wrong side of history if they continue down this path

EU vote on Bitcoin mining: What does it mean for the industry?

“Proof-of-work (PoW) crypto mining won’t be banned in the European Union — not this year at least. That’s the conclusion from last week’s closely watched committee vote in the European Parliament (EP).

A last-minute amendment presented by an ad hoc coalition of social democrats and Greens would have established a de facto ban on proof-of-work mining — the type of consensus mechanisms used by native cryptocurrencies like Bitcoin (BTC) and Ether (ETH) — has been decisively rejected. The crypto community can breathe easily, but some still worry that the industry’s problem with its energy-intensive consensus protocols remains.”


Master Asked on March 21, 2022 in Cryptocurrency.
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