Post
Topic
Board Bitcoin Discussion
Re: Bitcoin mining ban in Europe
by
Iranus
on 22/10/2022, 03:38:09 UTC
https://www.coindesk.com/policy/2022/10/18/eu-countries-must-be-ready-to-block-crypto-mining-commission-says/
EU Countries Must Be Ready to Block Crypto Mining, Commission Says
"The European Union's executive arm also wants blockchains to show energy-efficiency labels and to end crypto tax breaks.
Europe represents 10% of global proof-of-work mining"

Can this affect the price of bitcoin or is this another anti-mining statement?

Europe is experiencing a severe energy shortage this winter so I wouldn't be surprised when they enact this ban. Currently, many companies and businesses in Europe are on the verge of bankruptcy because of energy shortages as well as too expensive costs. This ban is likely to be temporary and it will be reinstated when the European economy recovers and things return to normal. This will definitely affect the bitcoin price but won't be too severe as we all know the root cause of this ban, IMO.