EU should ban energy-intensive mode of crypto mining, regulator says
ft.com
ft.com
https://electriccoin.co/blog/ecc-roadmap-calls-for-focus-on-...
Erik Thedéen, vice-chair of the European Securities and Markets Authority, told the Financial Times that bitcoin mining had become a “national issue” for his native country Sweden and warned that cryptocurrencies posed a risk to meeting climate change goals in the Paris agreement.
Thedéen said that European regulators should consider banning a mining method known as “proof of work” and instead nudge the industry towards the less energy-intensive “proof of stake” model to cut down on the sector’s vast power usage.