Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
UNCTAD: The situation in the Palestinian territories is unfolding within a context of overall economic and institutional fragility and is leading to serious social and environmental consequences
UNCTAD: Two years of military operations and restrictions have caused an unprecedented collapse of the Palestinian economy
UNCTAD: Situation in Gaza unique, represents the most severe economic crisis ever recorded
TASS reports 3 people were injured in a drone attack in the Rostov region, after a fire broke out at a facility in the industrial zone
Ukraine's Ministry of energy reports massive attack on energy facilities in the country
Taiwan's Ministry of Defense: One Chinese balloon was spotted in the Taiwan Strait on Monday
Israeli media reports injuries in ramming operation in al-Naqab.
Sheikh Daamoush: Zionists must remain worried, as they have committed a grave error.
Sheikh Daamoush: All concessions given by Lebanese government to date bore no fruit.
Sheikh Daamoush: It is the duty of the state to protect its citizens and sovereignty, government must push plans to that effect and refuse external pressures, diktats.

EU Parliament drops proposal on phasing out energy-hungry crypto

  • By Al Mayadeen Net
  • Source: Agencies
  • 15 Mar 2022 14:54
1 Min Read

A proposal to prohibit people in the EU from using energy-hungry processes to generate cryptocurrencies including Bitcoin was dropped today.

  • x
  • Cryptocurrencies like Bitcoin and Ether have stirred up alarm over the amount of electricity they require
    Cryptocurrencies like Bitcoin and Ether have stirred up alarm over the amount of electricity they require

A controversial proposal that attempted to limit pollution from the most energy-inefficient cryptocurrencies failed in the EU parliament today.

The EU Parliament's Committee on Economic and Monetary Affairs voted on Monday to proceed with a legislative framework to regulate digital assets, but dropped a rule in the framework that would have disallowed people in the EU from using an energy-hungry process to generate cryptocurrencies including Bitcoin.

Bitcoin and Ether and other such cryptocurrencies have stirred up alarm over how much energy they consume, and the greenhouse gas emissions they generate as a result. This is particularly important for the EU, which is grappling with an energy crisis and a rise in electricity rates that has now been compounded by the problems presented by Russia's operation in Ukraine.

The entirety of the Bitcoin network uses more electricity in one year than the entire country of Norway. Bitcoin miners use special computers that solve complex puzzles that need a lot of energy. The EU parliament considered banning that very puzzle-solving because of the amount of energy it consumes.

  • Bitcoin
  • Ether
  • Cryptocurrency
  • European Parliament
  • European Union
  • EU

Most Read

Inside the Epstein-Rothschild web behind 'Israel’s' spy tech empire

Inside the Epstein-Rothschild web behind 'Israel’s' spy tech empire

  • Politics
  • 19 Nov 2025
Hezbollah announces the martyrdom of Haitham al-Tabatabai

Hezbollah announces the martyrdom of commander Haitham Tabatabai

  • West Asia
  • 23 Nov 2025
Democracy at the civilizational crossroads: Critical analysis of bourgeois Democracy, its alternatives

Democracy at the civilizational crossroads: Critical analysis of bourgeois Democracy, its alternatives

  • Analysis
  • 19 Nov 2025
US readies covert, military measures to oust Maduro: NYT

US signs off on covert CIA operations inside Venezuela: NYT

  • Politics
  • 19 Nov 2025

Coverage

All
In Five

Read Next

All
Maduro highlights workers' rise, global support for Venezuela
Politics

Maduro announces receiving info about new plot against Venezuela

Humanitarian crisis deepens in Gaza under relentless Israeli attacks
Politics

Humanitarian crisis deepens in Gaza under relentless Israeli attacks

Last-ditch COP30 deal puts fossil fuels in the crosshairs
Environment

Last-ditch COP30 deal puts fossil fuels in the crosshairs, for now

Trump admin fumes after court tosses cases against Comey, James
Politics

Trump admin. fumes after court tosses cases against Comey, James

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS