Regulation considering ESG concerns: Is proof of stake the future of crypto?
March 14, 2022
Today the ECON committee voted against an amendment proposal for MiCA that would have effectively banned Bitcoin from the EU. The idea to unify crypto regulation throughout the EU is great since it provides clarity for companies, investors, and consumers. But there are also concerns that have been raised by the Green party. Proof of work is consuming a lot of energy and there is a huge debate going on whether Bitcoin mining is having an unacceptable impact on the environment or not.
What if regulators decide that proof of work is undermining efforts to stop climate change? Is proof of stake the future of crypto?