The Sweden government is seeking the European Union to ban energy-intensive cryptocurrency mining systems like Bitcoin’s.
During a recent debate on legislation to remove Proof of Work mining, EU officials addressed the anticipated ban on BTC trading with their Swedish colleagues, according to papers obtained through a freedom of information request.
The news comes after European Parliament legislators were on the verge of enacting limits on the energy-intensive BTC mining technology, which some interpreted as a BTC ban.
According to documents allegedly released under the EU’s freedom-of-information laws, Swedish financial and environmental regulators, as well as the European Commission’s digital-policy arm, discussed banning trading in crypto assets like BTC that use the proof-of-work technique at a meeting in November.
Bitcoin should be encouraged to progress toward a more ecologically friendly option like proof-of-stake
As rivals like Ethereum have done, and that they didn’t “see the necessity to ‘defend’ the bitcoin community.”
Parts of the text have been withheld to protect individual privacy or because of a “ongoing decision-making process,” implying that a policy on the subject is still being created. Officials in Sweden have already stated that they seek to prohibit proof-of-work for environmental concerns.
According to a separate document, conversations were still ongoing in February and included officials from the German environment ministry.
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The Sweden government is seeking the European Union to ban energy-intensive cryptocurrency mining systems like Bitcoin’s.
During a recent debate on legislation to remove Proof of Work mining, EU officials addressed the anticipated ban on BTC trading with their Swedish colleagues, according to papers obtained through a freedom of information request.
The news comes after European Parliament legislators were on the verge of enacting limits on the energy-intensive BTC mining technology, which some interpreted as a BTC ban.
According to documents allegedly released under the EU’s freedom-of-information laws, Swedish financial and environmental regulators, as well as the European Commission’s digital-policy arm, discussed banning trading in crypto assets like BTC that use the proof-of-work technique at a meeting in November.
Bitcoin should be encouraged to progress toward a more ecologically friendly option like proof-of-stake
As rivals like Ethereum have done, and that they didn’t “see the necessity to ‘defend’ the bitcoin community.”
Parts of the text have been withheld to protect individual privacy or because of a “ongoing decision-making process,” implying that a policy on the subject is still being created. Officials in Sweden have already stated that they seek to prohibit proof-of-work for environmental concerns.
According to a separate document, conversations were still ongoing in February and included officials from the German environment ministry.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
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