Some regulatory bodies worldwide are becoming more oppressive and hostile towards Bitcoin and digital assets. This has been exacerbated by the Russian invasion of Ukraine, as policymakers mistakenly think that the former will suddenly switch to using cryptocurrencies.
Other watchdogs are growing concerned about the excessive energy demands of proof-of-work Bitcoin mining (though it still uses less than all of the fridges and TVs in the United States alone).
Banning Bitcoin a Big Mistake
The European Union is preparing to vote on a Markets in Crypto Assets (MiCA) framework today that could result in heavy restrictions on PoW mining.
According to the draft law, crypto assets traded in Europe “shall be subject to minimum environmental sustainability standards and set up and maintain a phased rollout plan to ensure compliance.” On March 13, Bloomberg reported that new law could be a de-facto ban of Bitcoin and Ethereum (still PoW) in the EU.
On Sunday, Saylor tweeted that proof-of-stak
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