MiCA draft could mean the end of Bitcoin
Voting has been postponed indefinitely
Stefan Berger wants to clear up the misunderstanding about a “Bitcoin ban” and create clearer facts
European Parliament considers ‘Bitcoin ban’
As BTC-ECHO reports, it was rumored that the European Parliament in its MiCA guidelines would ban proof-of-work-based (POW) crypto services from January 2025 due to “ecologically unsustainable consensus mechanisms”. wanted to. A final compromise proposal from the responsible Committee for Economics and Currency (ECON) was exclusively available to BTC-ECHO. “Specifically, they shall not facilitate the purchase or trading of such crypto-assets and shall not provide custody services for such crypto-assets,” the draft said, according to BTC-ECHO. This could lead to the end of cryptocurrencies like Bitcoin from 2025 onwards. The initiative for the “Bitcoin ban” came from the parties SPD, Greens and Left.
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The vote was originally planned for February 28th
The vote, originally scheduled for February 28, has now been postponed indefinitely. The chairman of ECON, Stefan Berger (CDU), explained on Twitter that the vote on the MiCA draft in the EU Parliament was canceled at his request. In this way, they want to avoid the misinterpretation that the draft is a “Bitcoin ban”. The discussions about the MiCA draft are said to have made it clear that individual passages of the draft could be misinterpreted and thus interpreted as a POW ban. “It would be fatal if the #EU Parliament were to send the wrong signal with a vote under these circumstances,” he said on Twitter.
The vote of the EU Parliament #MiCA will be canceled at my request and will not take place on February 28th. As rapporteur, it is essential for me that the MiCA report is not considered de facto #Bitcoin-Ban is misinterpreted @btcecho 1/4
– Stefan Berger (@DrStefanBerger) February 25, 2022
Negotiations should be reopened
Now the talks and negotiations with the parliamentary groups are to be resumed in order to create clear facts about POW. The goal is a compromise that offers crypto assets an appropriate legal framework, but does not question POW as such, Berger continued. What result the new negotiations will achieve and when they will take place remains to be seen. However, a ban on POW-based cryptocurrencies such as Bitcoin is unlikely.
I will make another attempt with all stakeholders to reach a compromise that will provide Crypto assets with a proper legal framework, however #PoW does not question 4/4
– Stefan Berger (@DrStefanBerger) February 25, 2022
E. Schmal / Editor finanzen.net
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