The European Commission is preparing the minds of the leaders of its member states as they may need to stop cryptocurrency mining off their shores if tension in the region’s energy industry demands it.

according to a Press releaseDetailing an action plan to digitize the energy sector, the commission reiterated that the onus will soon fall on its member states to outright ban proof-of-work (PoW) mining systems used by crypto assets such as Bitcoin (BTC), Ethereum Classic (ETC), and Dogecoin (DOGE).

The ongoing war between Russia and Ukraine has put additional pressure on the region’s energy capabilities and the sanctions imposed on the Russian government also include capping oil from the Putin-led country.

With the arrival of winter, the demand for energy from homes and industries will increase. While it can be difficult to forecast the state of affairs between the EU and Russia at the most critical times, the European Commission has chosen to take a proactive approach to preparing its member countries on what it could cost to unload the electricity grid with the load. from crypto miners.

In the longer term, the European Commission plans to introduce a rating system that will classify crypto miners based on their estimated environmental impact. The introduction of this rating system is a compromise reached when there was a push back earlier this year when the Markets in Crypto Assets (MiCA) regulation PoW was banned. vehemently opposed by members of the European Parliament.

According to the commission, the transition from PoW to a proof-of-stake (PoS) system by the Ethereum Network is more or less the nature of the transformations it expects to see in the near future. With proposals for crypto miner qualification already underway, its implementation, if approved, will be scheduled for 2025.

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