The European Parliament will vote on the bill on Monday, March 14, which is stated to prohibit Proof of Work (PoW)-based cryptocurrencies (Ethereum, Litecoin, Dogecoin, Bitcoin Cash, etc.), especially Bitcoin and Ethereum.
The bill had previously received a great response from the crypto community and was removed from MiCA (Markets in Crypto Assets). According to the news, the inclusion of similar expressions in the bill was brought to the agenda again.
The European parliament committee is scheduled to hold a vote on the final version of the draft, which stipulates that industry executives could ban major digital currencies, including Bitcoin and Ethereum, in Europe.
Patrick Hansen, Head of Strategy and Growth at Unstoppable Finance, has released some key updates that add to the bill. Noting that there are two alternative bills to be submitted to the parliament, Hansen stated that only one of them will be included in the regulation and said;
“Crypto-assets will be subject to minimum environmental sustainability standards regarding the consensus mechanisms used to validate transactions before they are exported, offered or accepted for trade from the European Union.
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