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The Chief Strategy Officer at CoinShares, Meltem Demirors, has warned that governments across the globe will attempt to ban Bitcoin<\/a> and other cryptocurrencies. Mr. Demirors shared his insights on the future of Bitcoin and cryptocurrencies during the recently concluded Crypto Bahamas conference, where he said<\/a> the following:<\/p>\n What we’re seeing around the world, which is really concerning to me, is using the attack on proof-of-work, and in particular, bitcoin’s energy usage, as a way to implement a de facto ban on bitcoin without saying it.<\/p>\n I’m gonna say the quiet part out loud. Governments are going to try to ban bitcoin, they’re going to try to attack bitcoin because it’s really difficult to do otherwise.<\/p><\/blockquote>\n The possible trend of governments attempting to ban Bitcoin and cryptocurrencies has been evident for the last few months, starting with the European Union.<\/p>\n In mid-March, the EU Committee on Economic and Monetary Affairs voted on a bill that wanted to ban proof-of-work networks such as Bitcoin. However, at the last minute, the committee voted against<\/a> the proposal.<\/p>\n Furthermore, on the 7th of May, the European Central Bank tweeted that crypto-assets had an enormous environmental footprint, and authorities worldwide needed to evaluate their impacts on their financial roadmaps.<\/p>\n \ud83c\uddea\ud83c\uddfa@FrankElderson<\/a>: Crypto-assets such as #bitcoin<\/a> have an enormous ecological footprint. Their estimated energy consumption is comparable to that of some countries. Authorities across the world need to see how this affects their sustainable finance roadmaps and take action #AskECB<\/a> https:\/\/t.co\/cWcC9nBMRS<\/a><\/p>\n — European Central Bank (@ecb) May 6, 2022<\/a><\/p><\/blockquote>\nThe EU Had Attempted to Ban Proof-of-Work Networks<\/h2>\n
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