Newly proposed changes to the MiCA framework revive the threat of banning bitcoin in the EU.
) draft legislation. The controversial provision had sparked negative reactions from the crypto industry and community.
However, attempts to effectively ban cryptocurrencies like bitcoin in the EU have continued. Amendments to MiCA proposed on Friday, days before the Committee on Economic and Monetary Affairs votes on the package, aim to restrict cryptos classified as “unsustainable.” PoW mining is not specifically mentioned this time but the end result is likely to be the same, the German crypto news outletEcho reported. “Crypto assets shall be subject to minimum environmental sustainability standards with respect to their consensus mechanism used for validating transactions, before being issued, offered or admitted to trading in the Union,” the new provision reads.
Such cryptocurrencies, according to the authors of the amendments, shall be compliant with sustainability requirements. If the proposal is backed by ECON on Monday, when the committee is scheduled to vote on MiCA, bitcoin-related services will be de facto excluded from the scope of regulated activities. Patrick Hansen, head of strategy and growth at Unstoppable Finance, tweeted:
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Environmental sustainability key sticking point in EU MiCA billThe European Parliamentary Committee will vote on the MiCA bill today. It had a line re-added late last week that calls for proof-of-work chains to come into compliance with environmental sustainability standards.
Weiterlesen »
New amendments on EU crypto legislation put forward that could limit proof-of-work cryptocurrenciesLanguage regarding proof-of-work cryptocurrencies has once again been added to a proposed legislative framework set to be voted by a European Parliament committee on Monday, sparking a new round of controversy.
Weiterlesen »
Bitcoin-Banning Measure Seen Too Close to Call in Tomorrow's EU Parliament VoteStill, people familiar with the matter said a slim majority of parliamentarians could defeat a controversial new MiCA provision that seeks to force proof-of-work cryptocurrencies to shift to more energy-friendly consensus mechanisms.
Weiterlesen »
Bitcoin Ban Makes Its Way Back Into EU Crypto BillThe EU has moved forward with the plan to limit the use of proof-of-work cryptocurrencies after scrapping the initial anti-Bitcoin provision
Weiterlesen »
PoW: EU Is Set To Vote On Whether Or Not It Intends To Ban Bitcoin And EthereumThe EU seems ready to finally pass its regulatory framework on crypto with a vote expected on Monday. However, there are concerns that...
Weiterlesen »
Limiting Proof-of-Work Crypto Back on the Table as EU Parliament Prepares Virtual Currencies VoteA provision that could force proof-of-work crypto like bitcoin to switch to more environmentally sustainable consensus mechanisms has made it into a draft of the EU’s proposed crypto legislation ahead of a parliamentary vote on Monday. iamsandali
Weiterlesen »