European Commission: EU countries need to be prepared to stop cryptocurrency mining

According to BlockBeats, on Oct. 18, the European Commission said that EU member states must be prepared to block cryptocurrency mining due to potential energy price increases, power outages or power shortages due to gas supply disruptions in Russia. "In the long run, Ending tax breaks and other fiscal measures that benefit crypto miners currently in place in some member states is also critical." According to the data, crypto's energy consumption has increased 900% in five years, accounting for about 0.4% of global electricity use.