The European Union is extending the scope of sanctions introduced in response to Russia’s invasion of Ukraine, with the latest agreement between member states specifically mentioning crypto assets. Russian oligarchs, senators and Belarusian banks have been targeted. Europe’s Sanctions Classify Crypto Assets as Securities to Close Loopholes for Russia On Wednesday, the European Commission welcomed…

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The European Union’s regulatory proposal for crypto markets, MiCA, has been filed with the European Parliament. The latest version of the draft framework does not feature a controversial provision that could have effectively prohibited cryptocurrencies like bitcoin that rely on proof-of-work mining. Economic and Monetary Affairs Committee to Vote on Latest MiCA Draft on March…

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The European Union will vote on passing a key cryptocurrency law next week, with a widely-criticized ban on proof-of-work tokens to no longer be considered. Member of Parliament Stefan Berger tweeted  that the Economic and Monetary Affairs Committee (ECON) will vote on the bill on March 14. The proposal, called Markets in Crypto Assets, or

The post EU Drops Proof-of-Work Ban, To Vote On MiCA Crypto Law Next Week appeared first on CoinGape.

Lawmakers and regulators on both sides of the Atlantic discuss how to enforce financial sanctions against Russia in the age of decentralized currencies. Cryptocurrencies risk undermining sanctions against Russia, allowing Putin and his cronies to evade economic pain. U.S. financial regulators need to take this threat seriously and increase their scrutiny of digital assets. https://t.co/4lCUNcUC29 […]

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European Union lawmakers dropped a section of a pending bill. Named Markets in Crypto Assets (MiCA) bill, the proposal will ...

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The president of the European Central Bank, Christine Lagarde, is calling upon the European Union to develop a strict cryptocurrency regulatory framework. This call comes [...]

The European Parliament has delayed a vote on the Markets in Crypto Assets Directive (MiCA) over energy concerns. EU Delays Vote on Crypto Regulations MiCA, a much-anticipated market regulatory act, aimed at regulating cryptocurrencies was initially slated for a vote on February 28, 2022. However, the chairman of the Economics Committee, Stefan Berger recently announced its cancellation on Twitter and has asked for more time to clarify the provisions. 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 move comes after a draft of the framework began circulating earlier this week which included a provision that implied lawmakers were planning to restrict the use of cryptocurrencies that rely on an energy-intensive proof-of-work. According to the provisions, crypto firms will no longer be able to provide services that require the use of proof-of-work-based cryptocurrencies starting in January 2025. “The current discussion about MiCA indicates that individual passages of the draft report can be misinterpreted and seen as a ban on proof-of-work. It would be fatal if the European Parliament were to send the wrong signal by voting under these circumstances,” Berger stated in his tweet. Concerns Over Proof-of-Work Mining Various lawmakers and regulators in the EU have been calling for a ban on proof-of-work mining as concerns over its intensive energy consumption become more visible. In November 2021, a Swedish financial watchdog and the Swedish Environmental Protection Agency called for a ban on proof-of-work mining. Similarly, the European Securities and Markets Authority also called for a ban on proof-of-work mining in January 2022.

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Contrary to some expectations, Beijing’s crackdown on the crypto mining industry has increased Bitcoin’s carbon emissions, researchers have alleged. Leaving China, miners also left behind its eco-friendly hydropower and are increasingly relying on energy generated by fossil fuels, they claim. Bitcoin Mining Allegedly Less Green Since Miners’ Exodus From China Cryptocurrency mining has become a […]

The European Parliament will not hold a planned vote on crypto regulations after texts that can be interpreted as an attempt to ban coins with energy-intensive mining sparked negative reactions. The lawmaker leading the legislative effort says the matter needs clarification before MEPs can have a say, but the head of the ECB has insisted […]

Bitcoin could be banned in the European Union from early 2025 if the European Parliament fails to scrap an amendment to the Markets in Crypto-Assets (MiCA) framework. MiCA is the increasingly anticipated crypto regulatory framework for the European Union. According to a report released by German cryptocurrency media outlet BTC-ECHO, there is a provision forbidding […]

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