The EU has called for a ban on mining based on the Proof-of-Work mechanism.

The European Union needs to ban the mining of cryptocurrencies using the Proof-of-Work mechanism because of its impact on the environment, said Eric Teden, deputy chairman of the European Securities Market Supervision Authority (ESMA), in a conversation with the Financial Times. According to Teden, bitcoin mining has become a "national problem" in Sweden. He added that cryptocurrencies jeopardize the fulfillment of the climate goals of the Paris Agreement. According to Teden, European regulators need to think about banning mining using the Proof-of-Work mechanism and allow only cryptocurrencies using Proof-of-Stake, since they require less energy consumption.