EU ban on proof-of-work cryptocurrencies like bitcoin has been averted, report reveals.
“Talks are in full swing,” assured Berger who is a member of the Committee on Economic and Monetary Affairs. Once the EP passes the regulatory package, its final adoption will depend on the outcome of the dialogue between the Parliament, the European Commission, and the EU member states. The executive body in Brussels will then evaluate the future implementation of the approved draft.
In the past few months, officials and regulators from several member states have called for an EU-wide ban on proof-of-work mining, pointing to its power-hungry nature. was among the first to insist on such a measure, citing bitcoin mining’s increasing use of renewable energy at the expense of climate neutrality goals in other sectors.
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