The European Union published a report on Bitcoin and the BTC mining industry and its potential implications for three key sectors. The document hints at what many in the crypto space fear: the region is moving to ban Proof-of-Work within its borders.
Bitcoin Legality In Jeopardy?
According to Daniel Batten, a managing partner for CH4 Capital, the European Commission created this report through two institutions: the European Central Bank (ECB) and the European Securities and Markets Authority (ESMA).
The documents target Bitcoin from different angles, including its alleged negative impact on the environment, its “threat” to the region’s energy security, and its capacity to support criminal activities allegedly.
Government officials and institutions have repeated these allegations non-stop since BTC was created. However, the EU appears to be on the brink of taking action by altogether banning Proof-of-Work (PoW).
This situation has been denounced by Batten, other prominent personal
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