EU And Sweden Discussed Banning Bitcoin Proof Of Work: FOI Documents
Sweden’s government is urging the European Union to prohibit energy-intensive cryptocurrency mining techniques such as those employed by Bitcoin. Indeed, according to documents obtained through a freedom of information request, EU officials discussed the planned ban on Bitcoin trading with their Swedish counterparts during a recent debate on the legislation to abolish Proof of Work […]
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Previously unseen documents detailing the EU’s conversations around banning Bitcoin have come to light following a freedom of information request. European Union (EU) officials discussed banning Bitcoin trading during a debate on a proposal to ban Proof of Work mining according to documents obtained through a freedom of information request. According to a report, published by German digital culture organization Netzpolitik, officials from the EU went as far as suggesting that an all out ban on trading Bitcoin (BTC) should be enforced in order to curb its overall energy consumption. The....
A report by the Riksbank makes the case for banning Bitcoin mining in Sweden over proof-of-work energy consumption concerns; Bitcoin Twitter was quick to react. Another day, another environmental attack on proof-of-work (PoW) mining. A report shared by the Swedish central bank argued that energy-intensive Bitcoin (BTC) and cryptocurrency mining should be banned. The Swedish central bank, known as the Riksbank, is the oldest central bank in the world. In a damning report entitled, "Cryptocurrencies and their impact on financial stability,” the bank had a crack at PoW cryptocurrency mining.....
The state of New York is about to shoot itself in the foot yet again. First, the infamous BitLicense drew all cryptocurrency companies away and now they’re considering banning Proof-Of-Work mining. Or at least making it very hard for mining facilities and home miners to operate from the state. The New York State Assembly will […]
A series of private documents with discussions not meant to be seen by all eyes have been leaked on the BitcoinTalk forums today, pointing at some features that perhaps threaten the very idea of Bitcoin as we know it. The documents discuss Bitcoin blacklisting, transaction reversing, and proof of sacrifice - a new proof of work for asset forfeiture. The original poster of the documents added the following: "It is VERY important that you understand what is going on behind closed doors of the Bitcoin Foundation. I am absolutely disgusted by the approach the foundation is taking to make....
European Parliament’s economic and monetary affairs committee has voted against banning proof-of-work-based assets for companies in the European Union. An alternative proposal on crypto assets by European Parliament member Stefan Berger receives support instead.
Committee Rejects Proof-of-Work Ban
The Committee on Economic and Monetary Affairs (ECON) voted on the proposed Markets in Crypto Assets (MiCA) framework Monday. The proposal includes a de-facto ban on proof-of-work, a last-minute addition to the bill.
According to Patrick Hansen, head of strategy....