JUST IN: EU parliamentarians rejected a measure that could have forced proof-of-work cryptocurrencies like bitcoin to shift to more environmentally friendly consensus mechanisms. By iamsandali.
required all cryptocurrencies to be subject to the EU’s “minimum environmental sustainability standards with respect to their consensus mechanism.”
A slim majority of the monetary committee voted in favor of a compromise that calls on the European Commission, the EU’s executive arm responsible for proposing new legislation, to offer alternative regulation:
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