Small victory for the defenders of cryptocurrencies” class=”link copy”>cryptomoned. The European Parliament rejected on Monday an amendment calling for a ban on virtual currencies such as Bitcoin i Etherthe two best known for their energy and climate impact.
The Committee on Economic and Monetary Affairs of theEuropean Parliament ruled out this option by voting in favor of creating a legislative framework for regular US digital assets whose use has become popular in recent years. Beyond its speculative dangers, the normalization of cryptocurrencies as an investment mechanism has also raised alarms because Blockchain technology” class=”link copy”>Blockchain which sustains them has a significant climatic impact. Several studies have shown that Bitcoin consumes as much electricity annually as Argentina and emits as much carbon dioxide into the atmosphere as New Zealand.
Driven by MEPs from the Social Democrat and Green blocs, the proposal rejected on Monday sought to restrict the use of technologies that have a greater impact on climate and energy, two of the biggest crises facing the EU. European union (EU). In addition to the global climate crisis, the community club is at a particularly delicate time due to the war in Ukraine and its energy dependence on Russia.
The rejection of this amendment was very close. A total of 30 MEPs refused to ban the use of the most polluting cryptocurrencies, while 23 voted in favor and six abstained, as reported by ‘POLITICO’. However, this does not mean a free path for the use of these virtual assets in the EU, where they still generate a lot of skepticism. In yesterday’s vote, it was supported by a significant majority to demand the European Commission include Blockchain technologies that are more respectful of natural environment on the list of investments that Brussels considers economical, something that the European left sees as insufficient.
Door open to regulation
However, the decision is good news for the crypto community (as the most ardent proponents of cryptocurrencies are known), who say that its energy and climate impact is less than that of finance system current. “The European Parliament has paved the way for one regulation of cryptocurrencies that encourages innovation and can set standards around the world, ”said Stefan Berger, the German Conservative MEP who has led the bill.