The European Commission Could Ban Crypto Mining in the EU
Main page News, Mining, European Union, Regulations, Cryptocurrency
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Oct. 19, 2022

According to the action plan published by the EC for the digitization of the energy sector, the European Commission has reported that EU member states should prepare to suspend cryptocurrency mining "if it is necessary to reduce the load on electricity systems."

The European Commission is also insisting on the removal of tax incentives and other preferences for mining companies specializing in the energy-intensive Proof-of-Work consensus algorithm.

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The agency has also proposed the creation of a rating system for cryptocurrencies based on the impact of their mining on the environment.

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EU leaders have pointed to The Merge on Ethereum as a positive change, thanks to which the ETH network changed its algorithm to a more environmentally friendly one, PoS.

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