European Union (EU) MP Stefan Berger, responsible for drafting the crypto regulatory framework, announced that the European Parliament has postponed the vote on the package.
The provision that previously banned the proof-of-work algorithm that supports the Bitcoin network had entered the final draft of MiCA (Crypto Asset Markets).
If this draft is approved, the provision of Bitcoin and other energy-consuming crypto-related services will be banned from January 1, 2025. Some EU legislators feel that it is not possible to sustain the proof-of-work algorithm environmentally.
Berger said it was incorrect to refer to the current MiCA draft as a “defunct Bitcoin ban”
“It is very important to me that the MiCA directive is not misinterpreted as a de facto Bitcoin ban”
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