EU's heavily debated MiCA regulation is moving forward but without the provisions of the PoW ban.
It’s Official: EU Says No to Provisions Restricting BitcoinEU”s heavily debated MiCA regulation is moving forward but without the provisions of the PoW ban.
There’s been a lot of discussion surrounding EU’s proposed MiCA regulations, especially the text that was aimed at outlawing proof-of-work cryptocurrencies like Bitcoin. Now, the law is moving forward but without these clauses.The European Union’s proposed Markets in Crypto Assets regulatory package has decided not to advance the controversial provision targeted at limiting the use of the proof-of-work cryptocurrencies due to energy consumption concerns.
Before moving to the trilogue negotiations between the parliament, council, and commission, the EU lawmakers were trying to reach a consensus in terms of better regulating the crypto space. The current draft of MiCA does not include the provision to ban cryptocurrencies like bitcoin operating on the proof-of-work protocol.on Friday that his proposed mandate of not including a POW ban is not challenged and that the EU has shown “innovative strength.
The deadline for challenging the mandate ended at midnight on Thursday, Berger added, and the MiCA trilogue will begin next week.Non-fungible tokens and decentralized finance are the other subjects discussed by the parliament. The question lies in if they should be included in the MiCA package and which EU institutions should be responsible for overseeing the crypto space.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European Union’s MiCA Proposal Progresses to Trilogue Stage Without Bitcoin Ban Provision – Regulation Bitcoin NewsThe MiCA regulatory package passed another potential hurdle this week and is moving to the next stage of the EU’s legislative process.
Read more »
Consumer Rights Groups Applaud EU Passage of Law to Rein in Tech TitansThe Digital Markets Act 'will put an end to some of the most harmful practices of Big Tech and narrow the power imbalance between people and online platforms,' says edri's _DiegoNaranjo. DMA
Read more »
EU strikes gas deal with the U.S. as it seeks to cut its reliance on RussiaEconomic fences around Russia continue to tighten and target where it hurts most.
Read more »
Landmark EU law could take billions from Apple, and already forced a major change at GoogleApp stores’ vice-like grip over third-party software could be severely loosened when this landmark law takes effect next year. It would also allow for fines up to more than $50 billion for a repeat offender.
Read more »
Locals Warn Biden's EU Export Plan Would Make Gulf Coast 'Sacrifice Zone' for Fracked GasOne community activist lamented that 'the Biden administration and the E.U. are preparing to give the fossil fuel industry a green light to transform the Gulf Coast into a 'sacrifice zone' for fracked gas.'
Read more »