The Committee of the European Parliament Approved the Crypto Regulation Bill

The Committee on Economic and Monetary Affairs of the European Parliament (ECON) approved the version of the Markets in Crypto Assets bill (MiCA).

Parliamentarian Stefan Berger noted that the document did not include an amendment to ban mining on the Proof-of-Work consensus algorithm, which would de facto mean a ban on Bitcoin.

ECON supported Berger’s proposal for further discussion of this issue as part of the EU’s Taxonomie sustainability initiative.

Further, the bill must be considered by the Council of the European Union and the European Commission.

45 members of the committee voted to approve the document, five voted “against” and seven decided to abstain.

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