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The EU’s Near Miss on a Proof-of-Work Ban

The Breakdown

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Is There a Future for Crypto in the Eu?

The meka draft will be negotiated in the so called trilogues between the e u Commission, parliament and council. After their final agreement, a couple of months the law will enter into force. However, companies will have a six month transition period to comply with the requirements. Any chance is left for that of work ban. The groups that lost the vote have one last option. They could veto a fast track procedure of mika, going through the try logs and bring the discussion to the plenery of the parliament. That would bring the discussion around proof of work into the high level policy arena. As we can't predict how that would play out, it should be prevented.

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