EU Official Says They Can’t Ban Bitcoin Mining Over Energy Concerns

eolien

Last week, in a statement from the European Commissioner for Digital Economy and Society, Mariya Gabriel,  it was addressed that Bitcoin mining needed important quantities of electricity.

“If the energy consumed for this activity is produced according to law, there is no legal basis to forbid or even limit it. […] As mining of cryptocurrency is not an illegal activity, the Commission did not put in place any means to track it, so far,” said Mariya Gabriel.

“However, as an electricity-consuming economic activity, mining is subject to EU rules regarding energy efficiency, the power sector and greenhouse gases emissions,” she added.

Gabriel also stated that the effects of cryptocurrency mining on energy consumption and demand will continue to be tracked by the European Commission.

The European Commission has no solid data on how much cryptocurrency mining is effectuated in Europe.

As of now, cryptocurrency mining is completely legal on European soil. The only rules that need to be followed are the standard energy rules.

Gabriel pointed out that although most cryptocurrency mining is done in China, ” it cannot be excluded that some part of the mining is done in the EU.”

 

 

One thought on “EU Official Says They Can’t Ban Bitcoin Mining Over Energy Concerns

Leave a Reply