Environmental sustainability key sticking point in EU MiCA bill
The European Union’s MiCA bill has had a line related to environmental sustainability added back in, which could be problematic for Bitcoin miners in the region. The legal standing of Bitcoin mining in the European Union hinges on the results of a March 14 vote in the European Parliamentary Committee on Markets in Crypto Assets (MiCA).A controversial line concerning the “minimum environmental sustainability” of crypto mining has been reintroduced to the bill after previously being taken out. The new line would require blockchain operators to submit a rollout plan detailing how they will....
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A new report by the Crypto Carbon Ratings Institute (CCRI) showcases the environmental sustainability of the TRON network. According to the “Energy Efficiency and Carbon Footprint of the TRON Blockchain” report, the highly popular TRON network only consumes as much electricity as just fifteen average U.S. households.
The Environmental Sustainability of the TRON Network
The electricity consumption and related carbon footprint of Bitcoin and other cryptocurrencies have been subject to extensive discussion in public, academia, and industry. Various....
Hass McCook is a chartered engineer and freshly minted Oxford MBA. He has been researching bitcoin over the past several months and recently joined the Lifeboat Foundation's New Money Systems advisory board. Here, in the first in a series of articles on bitcoin's sustainability, he seeks to analyse the economic and environmental factors involved in the process of bitcoin mining. There has been a lot of uncertainty surrounding the sustainability of the bitcoin network, with this fascinating nascent technology facing several unsubstantiated claims that it is highly unsustainable from a....
The moderate version of the regulatory framework's draft prevailed in the ECON committee voting. Earlier on Monday, members of the European Parliament’s Committee on Economic and Monetary Affairs voted against a version of the Markets in Crypto Assets, or MiCA, bill that could have effectively banned proof-of-work-based cryptocurrencies within the EU. This comes as a huge relief for the crypto industry, whose representatives had previously warned about the threat of a hardline regulatory scenario. MiCA is a regulatory framework that contains 126 articles as well as a detailed plan of their....
"Strong support for MiCA is a strong signal from the EU Parliament for a technology-neutral and innovation-friendly financial sector," said Stefan Berger. The parliament of the European Union has scheduled a vote on a framework aimed at regulating cryptocurrencies after addressing concerns over proof-of-work mining.In a Monday Twitter thread, European Parliament Committee on Economics and Monetary Affairs member Stefan Berger said the committee will vote on the Markets in Crypto Assets, or MiCA, framework on March 14 following the submission of a final draft of the bill. As the rapporteur....
The European Union’s crypto regulation bill, set to be made law following some additional steps, contains a section that could impact many crypto influencers. The European Union (EU) bill aiming to regulate cryptocurrencies could result in crypto influencers being charged with market manipulation if they fail to disclose potential conflicts of interest.The Markets in Crypto Assets (MiCA) bill, which has been approved by the European Parliament Committee on Economic and Monetary Affairs on Oct. 10, is expected to be legislated after a few more hurdles.Patrick Hansen, stablecoin issuer....