Amended Markets in Crypto Assets proposal submitted with the European Parliament.
Officials and regulators from several EU member states have called for a Union-wide ban on PoW mining which requires more energy than other methods.insisted on such a measure, citing bitcoin mining’s increasing use of renewable energy at the expense of climate neutrality goals in other sectors of the economy. German representatives have also supported the idea.
“In view of the controversial discussions surrounding the energy consumption of crypto assets, the #taxonomy could provide clarity and ensure a better information basis for consumers,” Berger noted in another tweet. With itsclassification system, the EU is trying to direct investments towards sustainable projects.
The rapporteur further noted that with MiCA, the European Union can set global standards and called on those involved in the process to back the submitted draft. “Strong support for MiCA is a strong signal from the EU Parliament for a technology-neutral and innovation-friendly financial sector,” Stefan Berger elaborated.
The ECON member emphasized that the proposal establishes a regulatory framework that will pioneer innovation, consumer protection, and legal certainty in the crypto space while creating “reliableOnce ECON approves the package, MiCA’s implementation will be determined in dialogue between the European Parliament, the Council of the EU, and the European Commission.
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