{"id":68780,"date":"2022-10-18T20:17:17","date_gmt":"2022-10-18T17:17:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68780"},"modified":"2025-09-07T16:01:34","modified_gmt":"2025-09-07T13:01:34","slug":"european-commission-warns-of-a-potential-suspension-of-crypto-mining-in-the-eu","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/european-commission-warns-of-a-potential-suspension-of-crypto-mining-in-the-eu\/","title":{"rendered":"European Commission warns of a potential suspension of crypto mining in the EU"},"content":{"rendered":"

The European Commission said that the EU member states should prepare for a suspension of cryptocurrency mining, “if there is a need to shed load on electricity grids.” This comes from the department’s published plan for the digitalisation of the energy sector<\/a>.<\/p>\n

The European Commission also insists on removing tax breaks and other incentives for mining companies that specialise in the Proof-of-Work<\/a> algorithm.<\/p>\n

It also proposed creating a rating system for cryptocurrencies, in light of the environmental impact of their mining.<\/p>\n

As an example of positive shifts in the crypto industry, EU leaders cited The Merge in Ethereum<\/a>, by which the network of the second-largest cryptocurrency by market capitalisation changed its algorithm to a more eco-friendly one.<\/p>\n

Earlier, the vice-chair of the European Securities and Markets Authority, Eric Teden called for<\/a> banning Bitcoin mining and other cryptocurrencies that run on the Proof-of-Work algorithm.<\/p>\n

COM_2022_552_1_EN_ACT_part1_v6<\/a> by ForkLog<\/a> on Scribd<\/p>\n