European Parliament votes against PoW ban, providing huge relief to the crypt...
The moderate version of the regulatory framework's draft prevailed in the ECON committee voting. Earlier on Monday, members of the European Parliament’s Committee on Economic and Monetary Affairs voted against a version of the Markets in Crypto Assets, or MiCA, bill that could have effectively banned proof-of-work-based cryptocurrencies within the EU. This comes as a huge relief for the crypto industry, whose representatives had previously warned about the threat of a hardline regulatory scenario. MiCA is a regulatory framework that contains 126 articles as well as a detailed plan of their....
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In a recent report, the European Parliament looks at cryptocurrencies with a mixture of openness to innovation and uncertainty in how to tackle it. The EU Parliament regards cryptocurrencies in its current form mostly as a means to increasing efficiency and lowering transaction costs. Similar to the Bitcoin approach of many banks, the underlying Blockchain technology is seen as a means to fulfil the goals of the European Union, like lowering transnational transaction costs. Similar to approach of banks. The report says: “The main opportunities of VCs and DLT in the field of payments relate....
European Parliament members (MEPs) voted to take a hands-off approach to regulating blockchain technology, Ars Technica reports. Following the vote, unnamed sources told Ars Technica that European Commission staffers are working hard to understand the distributed ledger technology behind virtual currencies ‒ seven years after the launch of Bitcoin, with venture capital investments now totalling more than €1 billion. The MEPs voted in a proposal, set out in a resolution (a short summary is also available) drafted by Jakob von Weizsäcker, which suggests that a new task force, which would be....
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....
A European Parliament member delivered an impassioned speech this week to an influential committee on consumer protection as part of an ultimately successful campaign to take the next step toward implementing new measures related to blockchain tech. Antanas Guoga, an EU parliament member representing Lithuania, called blockchain a “perfect technology” as he spoke before the Internal Market for Consumer Protection Committee, which is weighing whether to advance a proposal for a new virtual currency task force. Guoga went on to encourage members to do their own investigation of bitcoin,....
The European Union is moving closer to establishing a dedicated task force focused on digital currencies. Late last month, the EU Parliament passed its latest budget proposal, which includes language for a working group dedicated to the technology, its uses and risks. An aide for von Weizsäcker’s office told CoinDesk that the task force was included in the passed budget, but that now it is subject to future debate and approval between the parliament and the European Commission, the EU’s executive branch. “Nothing is finalised yet,” the aide added. The task force was first proposed by....