Why The European Union Voted Against A De Facto Bitcoin Mining Ban

Per a report from Patrick Hansen, developer at Unstoppable Finance, the European Union Parliament could be about to crackdown on crypto wallets and their users. This entity just approved a revision to their Transfer of Funds Regulation with an upcoming draft to be voted on later today. Related Reading | How Coinbase Attempts To Stop […]

European Parliament’s economic and monetary affairs committee has voted against banning proof-of-work-based assets for companies in the European Union. An alternative proposal on crypto assets by European Parliament member Stefan Berger receives support instead. Committee Rejects Proof-of-Work Ban The Committee on Economic and Monetary Affairs (ECON) voted on the proposed Markets in Crypto Assets (MiCA) framework Monday. The proposal includes a de-facto ban on proof-of-work, a last-minute addition to the bill. According to Patrick Hansen, head of strategy....

In one week, the EU institutions voted in favor of a crypto-friendly resolution and promoted MiCA to the next stage. Last week, the European Union appeared to be rather busy with making decisions that could define the future of the crypto industry. First of all, 566 out of 705 members of the European Parliament voted in favor of a resolution originally drafted by member of the European Parliament (MEP) Lídia Pereira. The resolution recommends authorities in the 27 member states consider a “simplified tax treatment” for crypto users involved in occasional or small transactions and have....

As Britain plans to exit from the European Union, London-based fintech companies plan to exit Britain. There have been discussions about the United Kingdom exiting from the European Union for a while now. Most of us know that the European Union is not doing that great when it comes to the economy. Many EU countries have been suffering from economic slowdown for years. Greece has been in financial ruins for years now, France is not doing so good either, Germany, Netherlands and rest of the Europe are affected by the counter-sanctions imposed by the Russian Federation. The United Kingdom has....

The European Parliament has voted in a non-binding resolution today which approved a proposal for a taskforce looking into virtual currencies like bitcoin and blockchain technology. A proposal from late February, which sought to form a bitcoin- and blockchain-centric taskforce overseen by the European Commission, the executive arm of the European Union, was approved by the European Parliament in a majority vote today. The call for a task force is to study the technology to understand the risks and opportunities of virtual currencies (VC) and distributed ledger, or blockchain technology....