Proposal Limiting Proof-of-Work Is Rejected in EU Parliament Committee Vote: Sou...
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Proposal Limiting Proof-of-Work Is Rejected in EU Parliament Committee Vote: Sources
- March 15, 2022
- The European parliament’s economic and monetary affairs committee voted on Monday to keep the provision out of a draft of the proposed Markets in Crypto Assets framework, the EU’s comprehensive regulatory package for governing digital assets, people familiar with the result said.
- Some EU leaders are concerned that renewable energy may be channelled into sustaining cryptocurrencies like bitcoin instead of national use.
- For popular proof-of-work cryptocurrencies like bitcoin and ether, which are already traded in the EU, the rule proposed a phase-out plan to shift their consensus mechanism from proof-of-work to other methods that use less energy, like proof-of-stake.
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Stripe now supports crypto businesses, wallet providers and NFT marketplaces
- March 11, 2022
- U.S.-based fintech giant Stripe has significantly ramped up its crypto initiatives after it launched a service that enables payments for NFTs and digital assets via fiat currency.
- Stripe co-founder John Collinson shared an announcement via Twitter on March 11, and the firm also partnered with FTX, FTX US, Blockchain.com, Nifty Gateway, and Just Mining to launch the crypto business suite.
- Stripe initially rolled out Bitcoin support back in 2014 but reversed the decision four years later due to the network’s slow transaction speeds and fees at the time.
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