If PoW algorithm is banned how will BTC thrive? Is that even possible to begin with because the only crypto project that will die PoW is BTC so why is EU securities regulator trying to place ban on PoW algorithm?
Yes, it is real, you need to understand that a great deal of the politicians are not really experts at anything and they just got where they are because of their connections, so there are two possibilities, this is just another attempt to ban bitcoin but they are doing so in such a way to avoid even saying its name or this is an attempt by the environmentalists to try to protect the planet, or at least that is what they think.
In the first case scenario there is not much to comment as we know that many governments around the world want to ban bitcoin because they are trying to protect their fiat, and in the second case those people are misguided, it seems they want us to go back and live inside caves while we barter with each other instead of living in an advanced society.