Monday, March 14, 2022

EU Bitcoin Ban Fails In Key Vote

A Last-minute attempt by European Lawmakers, to potentially enact a Backdoor SoftBban of Bitcoin, Failed Monday, in a closely-watched Vote followed by Crypto Enthusiasts.

A Legislative Proposal, that would crack down on Crypto Assets, using Proof-of-Work Distributed Ledger Technology, which is responsible for the considerable Carbon Emissions of Bitcoin and Ethereum, Failed to muster the necessary Votes in a Crucial EU Parliament Committee Vote.

Conservatives and Free Market Liberals, united to Vote Down the Amendment 30 to 23 in favor, with Six Abstentions, stymying efforts by the Social Democrats and Greens.

In the process, they also Passed a Broader Package of Legislation Regulating Digital Assets, for the First time in Europe, which will now proceed to a Negotiation Stage with more Bitcoin-friendly EU Executive as well as the 27 Member States in so-called "trilogue" Talks.

Finnish Parliamentarian Eero Heinäluoma, representing the Main Opposition Socialists and Democrats Group, blasted his Colleagues on the Center-Right for endangering Efforts to Boost Energy Independence, while Failing to address the Catastrophic Consequences of the Industry's growing Energy appetite.

“The carbon footprint of a single Bitcoin transaction equals a transatlantic return flight from London to New York. This is 1.5 million times the energy used up by a Visa transaction," he said in a Statement on Monday.

NYC Wins When Everyone Can Vote! Michael H. Drucker

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