+3.85% Bitcoin (BTC) 98728.1 EUR
+6.47% Ethereum (ETH) 2521.09 EUR
+4.18% Litecoin (LTC) 80.79 EUR
+0.67% B-Cash (BCH) 447.09 EUR
+2.52% Ethereum (ETH) 0.0258156 BTC
+0.24% Litecoin (LTC) 0.00082719 BTC
-3.21% B-Cash (BCH) 0.0045248 BTC
+4.00% Bitcoin (BTC) 117094.653 USDC
-0.08% USD Coin (USDC) 0.85 EUR
+6.94% Chainlink (LINK) 13.17 EUR
+3.01% Chainlink (LINK) 0.00013353 BTC
+6.77% Dogecoin (DOGE) 0.16 EUR
+2.42% Dogecoin (DOGE) 0.00000169 BTC
+1.16% Uniswap (UNI) 7.34 EUR
-2.63% Uniswap (UNI) 0.00007453 BTC
+8.29% Cardano (ADA) 0.58 EUR
+4.24% Cardano (ADA) 0.0000059 BTC
+1.04% Tron (TRX) 0.25 EUR
-2.67% Tron (TRX) 0.00000255 BTC
+7.64% Shiba Inu (SHIB) 0.00001154 EUR
+1.33% Zcash (ZEC) 36.43 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
+11.62% Arbitrum (ARB) 0.3976 USDC
+6.81% Chainlink (LINK) 15.29 USD
+7.30% Chainlink (LINK) 15.33446 USDC
+0.92% Uniswap (UNI) 8.521 USDC
+7.74% Ondo (ONDO) 0.76 EUR
+7.83% Ondo (ONDO) 0.8986 USDC
+9.65% Gala (GALA) 0.01 EUR
+9.83% Gala (GALA) 0.01697 USDC
+8.74% Wormhole Token (W) 0.06 EUR
+8.62% Wormhole Token (W) 0.0743 USDC
+5.60% Chiliz (CHZ) 0.03 EUR
+5.68% Chiliz (CHZ) 0.04 USDC
+7.13% Sand (SAND) 0.24 EUR
+6.85% Sand (SAND) 0.2884 USDC
+2.49% Aave (AAVE) 265.15 EUR
+2.84% Aave (AAVE) 310.94 USDC
+8.26% Curve DAO (CRV) 0.51 EUR
+8.32% Curve DAO (CRV) 0.605 USDC
+9.85% Immutable X (IMX) 0.42 EUR
+9.95% Immutable X (IMX) 0.4937 USDC
0.00% Skale (SKL) 0.07 USDC
+8.15% Beam (BEAM) 0 EUR
+6.85% Beam (BEAM) 0.00701 USDC
0.00% Axelar (AXL) 1.05 USDC
+7.26% Livepeer Token (LPT) 5.76 EUR
+7.33% Livepeer Token (LPT) 6.76 USDC
+3.20% Compound (COMP) 41.24 EUR
+3.24% Compound (COMP) 48.34 USDC
+14.31% Coti (COTI) 0.04 EUR
+14.62% Coti (COTI) 0.0572 USDC
0.00% Portal (PORTAL) 1.1 USDC
+19.00% Sushi (SUSHI) 0.61 EUR
+19.14% Sushi (SUSHI) 0.7208 USDC
+24.88% Pepe (PEPE) 0 EUR
+24.87% Pepe (PEPE) 0.0000124 USDC
+21.23% Optimism (OP) 0.56 EUR
0.00% Polygon (MATIC) 0.2 EUR
+8.28% Solana (SOL) 140.07 EUR
+1.74% Solana (SOL) 0.0014201 BTC
-6.10% Solana (SOL) 0.055635 ETH
-0.09% USD Coin (USDC) 0.73 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

EU securities regulator calls for proof-of-work crypto mining ban

01-20-2022

Erik Thedéen, the vice-chair of the European Securities and Markets Authority has raised concerns over the growing use of renewable energy for Bitcoin mining.

 

In a recent interview with the Financial Times, Thedéen said that Bitcoin (BTC) mining has become a “national issue” and warned cryptocurrencies could pose a risk to climate change goals.

 

He called upon European regulators to take special exception to proof-of-work mining which is primarily used by Bitcoin and a few other forked altcoins. He also advocated for proof-of-stake as a better, energy-efficient alternative:

 

“We need to have a discussion about shifting the industry to a more efficient technology.”

Melanion Capital, a Paris-based alternative investment firm, has addressed the growing call for a ban on PoW mining back in November 2021, called it "completely misinformed"

 

The investment firm said that due to the decentralized nature of Bitcoin, there is no lobby or group to defend its interests, which “should not be taken as an opportunity to implement measures rendering illegal an industry for its lack of defensive powers.”

 

The Bitcoin network’s energy usage was one of the most controversial topics in 2021 that saw the likes of Elon Musk, Jack Dorsey and Michael Saylor engage in several debates. Tesla even discontinued the Bitcoin payment option citing the Bitcoin network’s energy usage. However, unlike Thedéen, most of the critics until now had no issue with clean energy usage. Musk has claimed that if 50% of the Bitcoin network’s energy comes from renewable sources, Tesla would rethink adding a Bitcoin payment option.

 

China’s Bitcoin mining ban in May last year turned out to be a boon for the ecosystem, as it not only disintegrated the highly centralized Bitcoin mining industry, it also helped in moving towards renewable energy usage. According to the Q3 report from Bitcoin Mining Council, renewable energy usage by the Bitcoin network reached 58% by the third quarter of 2021.

 

Source:  Cointelegraph