Wednesday, October 8, 2025

Latest

EU Nixes Proof-Of-Work Crypto Ban

The European Union’s parliament voted on Monday against a proposal to limit the use of proof-of-work cryptocurrencies.

The union’s Committee on Economic and Monetary Affairs voted 24-32, effectively thumbing down passing the initiative.

The proposal was part of the Markets in Crypto Assets (MiCA) framework aimed at regulating the region’s cryptocurrency industry.

Many crypto assets like bitcoin and ethereum use proof-of-work to confirm transactions and add new blocks to the chain. The process has received growing criticism for using up a lot of energy to process.

While there are calls to switch crypto mining’s power source to renewable energy, concerns have been raised that this could mean the infrastructure for green energy might end up favoring the crypto framework and not the public grid.

The proposed framework saw an additional provision over the weekend to limit the use of cryptos that use proof-of-work, which many in the cryptosphere have been equating to a ban since the limit renders most crypto mining activities inoperable.


Information for this briefing was found via EuroNews, Twitter. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

“I’d Close It Down”: JPMorgan CEO Jamie Dimon Slams Crypto at Senate Hearing

JPMorgan Chase CEO Jamie Dimon reiterated his strong opposition to cryptocurrency during a hearing with...

Thursday, December 7, 2023, 01:14:00 PM

Saylor “Stretches” For Cash To Buy Bitcoin As MicroStrategy Premium Evaporates

MicroStrategy’s (NASDAQ: MSTR) Michael Saylor has introduced a fourth perpetual preferred security, “STRC”, offered to...

Wednesday, July 23, 2025, 03:45:00 PM

Central Banks Ramp up Fight Against Cryptocurrencies in Effort to Control Global Monetary System

Central banks around the world have begun to take action against cryptocurrencies, after a recent...

Thursday, June 24, 2021, 02:43:00 PM

German Automakers Fined Over Emissions Technology Collusion

The European Union has decided to fine several German automakers over illegally conspiring to restrain...

Sunday, July 11, 2021, 01:03:00 PM

Bitfarms: Employing A Risky Strategy To Counteract A Challenging Bitcoin Mining Environment

Bitfarms Ltd. (TSXV: BITF), a levered Bitcoin miner, has decided to employ a growth strategy...

Monday, October 12, 2020, 09:00:00 AM