The European Union is thinking seriously about the introduction of a ban on bitcoin sales due to the large amount of electricity consumption during the mining of BTC and the negative effect on the environment. Details were shared by the edition Netzpolitik.

It is reported that the restriction on trading the first cryptocurrency should be the next step after the introduction of a ban on BTC mining using the Proof-of-Work (PoW) algorithm. Such a radical stance on the mining and distribution of digital assets will help reduce the amount of energy consumption, experts believe.

The only way out for the Bitcoin network is to switch to Proof-of-Stake (PoS) algorithm. European officials believe that the EU supervisory authorities are actively pushing for this, citing the example of the Etherium network, which is halfway to the new mining mechanism. In the future, as one politician pointed out, a total ban on cryptocurrencies mined the old way is possible.

Much of the discussion about the need to change the bitcoin mining procedure is related to the cryptocurrency boom seen in recent years. As the publication reminds, the Bitcoin network continues to increase electricity consumption, which in turn attracts the attention of the relevant supervisory authorities.