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.
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
O'Leary's track record speaks volumes about his prowess in the business world. Today, let's join…
Many have been fascinated by Michael Burry, famous for his prescient predictions in the financial…
Berlin, Germany, May 1st, 2024, ChainwireThe Nektar Network is excited to announce the commencement of…
The surge in Tether profits was primarily driven by approximately $1 billion in net operating…
London, UK, May 1st, 2024, ChainwireThree days into its existence, $ROCKY, the latest meme coin…
Chinese law enforcement authorities have apprehended a suspect involved in a sophisticated scheme targeting the…
This website uses cookies.