Post on 31 March 2022
Cryptocurrencies: European regulation project puts the sector in turmoil
The end of ethereum and bitcoin in the European Union. This is, according to many actors in the world of cryptos, the threat posed by the vote of a draft European regulation to regulate the use of crypto assets (“Market in Crypto Assets” or MiCA). In the target, a mining technique, the so-called “proof of work”. Specifically, the one used to create bitcoins. The regulations were intended to restrict it because of its proven environmental impact. For the sector, this was simply to wring the neck of the cryptocurrency.