WebsCrypto
    Facebook Twitter LinkedIn Telegram
    WebsCryptoWebsCrypto
    Crypto Prices
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFTs
    • Markets
    • Business
    • Opinions
    • Guides
    • PR
    • Sponsored
    WebsCrypto
    WebsCrypto—News—Business News—EU May Stop Crypto Mining Due to Power Crisis, Plans to Develop Crypto Energy Efficiency Labels
    Business News

    EU May Stop Crypto Mining Due to Power Crisis, Plans to Develop Crypto Energy Efficiency Labels

    By Simon LawsonOctober 19, 2022
    EU May Stop Crypto Mining Due to Power Crisis, Plans to Develop Crypto Energy Efficiency Labels
    Facebook Twitter Telegram LinkedIn Reddit Email

    According to the EU’s action plan for the digitalisation of the energy system, released on Tuesday. The European Commission has announced that crypto mining may be forced to stop if the power system needs to be shed, and EU member states must prepare for this.

    As pressure on energy supplies in Europe intensifies, the committee wants countries to prepare to reduce electricity consumption by cryptocurrency miners, and in regions forced to reduce electricity load, crypto mining operations may be ordered to stop entirely.

    In the longer term, the European Commission also wants EU member states to consider ending the current tax breaks and subsidies for miners who provide proof-of-work.

    The European Commission also announced a proposal to introduce a rating system for cryptocurrencies based on the EU’s internal environmental impact, and will work internationally with different standardization bodies to develop energy efficiency labels. As reported yesterday, the European Commission said EU countries should prepare to stop cryptocurrency mining.

    Related:  Argentine Football Association AFA Collaborates with Upland to Enter the Metaverse
    DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
    Bitcoin Business Crypto
    Related News
    Market News March 24, 2023

    Circle CEO Warns of Market Anxiety Over ‘Aggressive Regulatory Action’ in US

    Business News March 24, 2023

    Mysten Labs Buys Back Equity and Token Warrants from FTX Assets for $96M

    Bitcoin News March 24, 2023

    Rising Bitcoin Miner Fee Revenue Signals Start of Bull Market

    Business News March 23, 2023

    Coinbase and Justin Sun Both Face SEC Charges

    Altcoin News March 23, 2023

    Xapo Bank becomes the first fully licensed bank to support USDC deposits and withdrawals

    Market News March 23, 2023

    White House Slams Digital Assets in New Report, Says Cryptocurrencies Are Overhyped

    The Latest
    Market News March 24, 2023
    Circle CEO Warns of Market Anxiety Over ‘Aggressive Regulatory Action’ in US
    Business News March 24, 2023
    Mysten Labs Buys Back Equity and Token Warrants from FTX Assets for $96M
    NFT News March 24, 2023
    Report: Metaverse’s NFT transaction volume reached US$311 million in the first quarter
    Ethereum News March 24, 2023
    Arbitrum Sets All-Time Daily Volume Record Ahead of ARB Token Airdrop
    Bitcoin News March 24, 2023
    Rising Bitcoin Miner Fee Revenue Signals Start of Bull Market
    Block 3000

    WebsCrypto contains crypto news about cryptocurrencies, bitcoin, ethereum, altcoins and more.

    Facebook Twitter Instagram LinkedIn Telegram RSS
    News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • NFT News
    • Market News
    • Business News
    Information
    • Opinions
    • Guides
    • Press Release
    • Sponsored
    Services
    • About Us
    • Contact Us
    • Advertise
    © 2023 WebsCrypto.
    • Privacy Policy
    • Terms of Service

    Type above and press Enter to search. Press Esc to cancel.