EU Takes Aim At Bitcoin Mining Industry With Upcoming Draft Law: Report

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The EU is set to release draft legislation which would hinder the bitcoin mining industry while encouraging the use of proof-of-stake based cryptocurrencies. The European Union is set to release an energy efficiency label from Bitcoin and proof-of-work cryptocurrencies in an effort to deter energy consumption, per a report from Bloomberg. The European Commission is reportedly working with international partners to create a grading measure meant to “encourage more environmentally friendly crypto systems such as proof-of-stake,” per a draft proposal seen by Bloomberg News. The dr ...

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