The European Union is using $842k of tax-payer money to “seek more data on Crypto‘s significant environmental harm“. A waste of money in other words.

Crypto and governments that just never went well with those two opposing forces together, also one reason that we barely got any Crypto regulations until now. Even though the European Union has been miles ahead of Crypto regulations in front of the US actually, still many of those regulations were rather against Crypto.

Their main target seems to have been Bitcoin mining, which they deem as “environmental damage“ and honestly a ban of Bitcoin mining in Europe probably would not affect Bitcoin as much as the China ban in 2021 and we even quickly recovered from that one. Still it is quite weird to still see them following this old myth of Bitcoin mining being the worst thing, even though it is way less damaging than the whole banking sector to the environment.

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News article about the announced $842k Program

Still they do not seem to forget about it, now they even approved a 800k Euros ($842k) research plan about Crypto mining and how it can harm the environment. All of this plan will be financed through taxpayer money in Europe and we can be sure that there just can not be any significant findings, as most is already known.

It is already known that 55% of all Bitcoin mining is done through sustainable energy sources, but they probably won‘t agree anyway.

This is just another waste of money in their endless fight to deem Crypto a scam and as something bad for the whole world. Maybe some will even believe them, but right now there should be quick Crypto regulations and not such methods, the EU and US are both running towards an upcoming Crypto bull market where we still won‘t have real Crypto regulations.