EU Commissioner: Union Cannot Forbid Mining

March 13, 2018

Despite large power consumption volume cryptocurrency mining is legal so it must be controlled by solely existing laws and regulations for electricity sector, as the EU Commissioner believes.

Last week European Commissioner for Digital Economy and Society Mariya Gabriel spoke on the topic of big electricity consumption for mining. The issue gets raised more often in both Europe and globally.  Эта тема все чаще поднимается не только в Европе, но и во всем мире. Gabriel explained the EU’s opinion and told of the mining industry legal status.

“If the energy consumed for this activity is produced according to law, there is no legal basis to forbid or even limit it. ... As mining of cryptocurrency is not an illegal activity, the Commission did not put in place any means to track it, so far”, Gabriel wrote.

She claimed, cryptocurrency mining is subject to the standard EU rules for power industry and green house gases emission. Gabriel added, currently it is China that has the major part of mining.

It is to be reminded that last months saw a number of reports saying miners from Iceland consume more power than the country’s total population does.

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