The EU’s MiCA bill, which closely concerns Bitcoin (BTC), Litecoin (LTC), Monero (XMR), Dogecoin (DOGE) and other PoW Blockchains, will enter the next phase of negotiations today.
Bitcoin investors locked in MiCA bill
The next negotiation on the European Union’s (EU) landmark MiCA regulatory package begins today. Following the EU legislative process, MiCA will now be the subject of informal tripartite discussions (called tripartite talks) involving the bloc’s branches of government (Commission, Parliament and Council). Parliamentarian Stefan Berger, who is responsible for overseeing the framework as it progresses through the legislative process, confirmed that the trilogy will begin Thursday as scheduled.
Introduced in 2020, the MiCA bill aims to simplify expansion for crypto businesses in the EU’s 27 member states and includes a wide range of rules for crypto publishers and service providers. It will also include specific regulatory requirements for stablecoins, which are cryptocurrencies pegged to the value of other assets such as the US dollar.
While discussing the bill, including provisions that could effectively ban popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) in the EU, the framework is concerned that networks supporting PoW Blockchains consume too much energy. recently passed the European Parliament after several tense weeks. Today’s vote will consider changes to AML legislation aimed at regulating decentralized wallets.
What will be the content of the MiCA bill and at what time?
Changes to AML regulations aimed at regulating decentralized wallets where user information is not stored and shared with governments will be voted on by the EU Parliament’s Economic and Monetary Affairs Committee. Under the new AML regulations, which also include crypto currency transactions, financial institutions will be required to provide information about their customers’ transactions. With its mandate to share information about cryptocurrency transactions, the European Parliament hopes to make it easier to track criminals.
The item to be voted on will be upon receipt of the parties’ information in buyer and seller transactions made from decentralized wallets. The meeting will take place today between 14:45 and 15:45, and voting on the entire draft is planned between 18.00-19.00. We will be transmitting the results of the voting as Kriptokoin.com.
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