The plans for a Bitcoin ban are off the table
The German magazine BTC ECHO reports that it has seen a new version of the European Parliament's MiCA compromise draft, in which the controversial paragraph 61 (9c) has been completely deleted. The Deputy Office of the Chairman of the responsible Committee on Economic and Monetary Affairs (ECON), Stefan Berger, confirmed the deletion of the paragraph. The paragraph would have meant a European ban on services for proof-of-work-based cryptocurrencies such as Bitcoin and Ethereum.As reported, the Left, the Greens, and the Social Democrats had initially pushed through the proposed ban in the negotiations, but that did not work out as planned, as the paragraph was the main reason for the postponement of the MiCA vote. European politician Berger explained that the negotiations were now resumed because they wanted to get the MiCA through the EU Parliament as quickly as possible.
There is no new decision date yet
However, there is still no new decision date in the EU Parliament on the MiCA draft to regulate Bitcoin and other cryptocurrencies. The intention is to organize a corresponding date as soon as possible. After the vote, there will be a trialogue between the EU Commission, the Parliament, and the member states. The Commission will then evaluate the implementation of the Parliament's draft.The MiCA framework, introduced in 2020, aims to introduce oversight of the crypto industry at the EU level. The proposal sets rules for cryptocurrency issuers and service providers and even specifies rules for stablecoins. Although the energy concerns of proof-of-work cryptocurrencies are unlikely to play a role in the MiCA framework, these discussions will likely continue at a later date.
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