“It’s a long way an necessary for me that the MiCA thunder is no longer misinterpreted as a de facto Bitcoin ban,” mentioned Stefan Berger.
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The parliament of the European Union is delaying a vote on a framework aimed toward regulating cryptocurrencies amid concerns over proof-of-work mining.
In a Friday Twitter thread, European Parliament economics committee member Stefan Berger mentioned the government physique had canceled a vote on the Markets in Crypto Belongings, or MiCA, framework scheduled to happen on Monday. Berger mentioned parliament desired to account for “the question of proof-of-work” in discussions with stakeholders to make certain a appropriate felony framework, including that some would possibly possibly possibly also misread the proposal as a ban on crypto.
“The dialogue about MiCA indicates that particular particular person passages of the draft thunder will also be misinterpreted and understood as a [proof-of-work] ban,” mentioned Berger. “It would possibly possibly even be fatal if the EU Parliament sent the execrable stamp with a vote under these conditions.”
Die Abstimmung des EU-Parlaments zu #MiCA wird auf meine Forderung hin abgesetzt und nicht am 28. Februar stattfinden. Als Berichterstatter ist es für mich zentral, dass der MiCA-Bericht nicht als de-facto #Bitcoin-Verbot missinterpretiert wird @btcecho 1/4
— Stefan Berger (@DrStefanBerger) February 25, 2022
The MiCA, first launched to the European Price in September 2020 and adopted by the European Council in November 2021, aimed “to acquire a regulatory framework for the crypto-assets market that supports innovation and attracts on the functionality of crypto-assets in a system that preserves financial steadiness and protects traders.” As the rapporteur of that vote — the particular person appointed to thunder on its complaints — Berger mentioned he canceled the vote, no longer specifying when it’ll be scheduled again.
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The push for clarification would possibly possibly possibly also were introduced on by stories that a leaked draft of the MiCA proposed banning the disclose of cryptocurrencies within the EU over their disclose of energy. If enacted, the regulatory proposal would replace all most popular national frameworks on crypto for EU member worldwide locations with out the must reform laws one after the other, which would possibly possibly possibly also hold potentially ended in a ban on proof-of-work mining.
Many lawmakers and regulators within the EU were calling for a ban on proof-of-work mining because the crypto house grows and the impacts of climate commerce change into extra seen. A Swedish financial watchdog and the Swedish Environmental Security Company called for a ban on proof-of-work mining in November, a stir that bought criticism from some change leaders.
