Money
Will Bitcoin be banned in Europe? The vote that could hit crypto
A proposed rule that could lead to a ban on bitcoin will be voted on by the European Union, with the outcome very much undecided.
EU lawmakers are working on a sweeping package for governing digital assets.
The draft contains a late addition that looks to limit the use of crypto that is powered by the ‘proof-of-work’ computing process.
This is a blockchain-based algorithm that secures many cryptocurrencies, including Bitcoin and Ethereum.
Although the vote is still a close call, it’s believed that a small majority of committee members may vote against the measure.
Stefan Berger, the rapporteur behind the MiCA framework, clarified that the bill wasn’t supposed to be a de facto Bitcoin ban.
The draconian provision has been scrapped from the bill.
Crypto backlash
Although there are plans to move ethereum to a proof-of-stake consensus mechanism, it’s unclear whether the same option is available for bitcoin.
The provision was met with swift backlash from the crypto community worldwide.
-
Shows4 days agoSimplifying complex cyber security
-
Shows2 days ago
The Dragon’s Tale
-
News4 days ago
Apple responds to crushing iPad Pro criticism
-
News3 days ago
Does American media have TikTok bias?
-
Tech4 days ago
One year later, how is Xbox’s acquisition of Activision paying off?
-
News2 days ago
U.S. home prices surge 47%
-
News5 days ago
U.S. competes to stay ahead of China on ‘AI ‘ weapon systems
-
News2 days ago
Portal between countries shut down after international flashing
