Regulators are concerned about the negative impact of mining on the environment.
Eric Tedeen, vice-chairman of the European Securities and Markets Authority (ESMA), considers the growing popularity of proof-of-work cryptocurrency mining a serious threat.
In an interview with the Financial Times, he said that Bitcoin mining has become a “national problem” and called on European regulators to ban this type of cryptocurrency mining. He came out in support of proof-of-stake (PoS) and said:
We need to start discussing the industry's transition to more energy-efficient technologies.
High electricity consumption for Bitcoin mining has become one of the hottest topics in the crypto market in 2021. Many famous personalities have spoken out on this topic, and the head of MicroStrategy, Michael Saylor, even launched the “Bitcoin Mining Council”, which, among other things, took as its goal to solve this problem.
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According to www.ft.com
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