European Parliament Committee supported the regulation of cryptocurrencies

Of the 45 members of Parliament, 5 voted “against” and 7 abstained

15.03.2022 - 11:40

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2 min

What’s new? The Committee on Economic and Monetary Affairs of the European Parliament (ECON) has adopted a bill on Markets in Crypto-Assets (MiCA). 45 members of Parliament participated in the vote, with 5 voting against it and 7 abstaining. The bill will next be discussed by the EU Council and the European Commission, MP Stefan Berger reported on Twitter.

Source: Twitter.com

What is known about the bill? An amendment to ban the Proof-of-Work algorithm was not included in the document. On March 14, the European Parliament’s Committee voted against banning cryptocurrencies using PoW. The adoption of this amendment would have meant a complete ban of Bitcoin in the European Union.

Stefan Berger stated:

“The European Parliament has paved the way for an innovation-friendly crypto-regulation that can set standards worldwide. The process is not finished yet. Moving forward. By adopting MiCA as a whole, ECON gave a strong signal for innovation.”

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