European Parliament postpones crypto bill vote over proof-of-work
The parliament of the European Union is delaying a vote on a framework aimed at regulating cryptocurrencies amid concerns over proof-of-work mining.
In a Friday Twitter thread, European Parliament economics committee member Stefan Berger said the government body had canceled a vote on the Markets in Crypto Assets, or MiCA, framework scheduled to take place on Monday. Berger said parliament needed to clarify “the question of proof-of-work” in discussions with stakeholders to ensure a proper legal framework, adding that some might misinterpret the proposal as a ban on crypto.
“The discussion about MiCA indicates that individual passages of the draft report can be misinterpreted and understood as a [proof-of-work] ban,” said Berger. “It would be fatal if the EU Parliament sent the wrong signal with a vote under these circumstances.”
Die Abstimmung des EU-Parlaments zu #MiCA wird auf meine Forderung hin abgesetzt und nicht am 28. Februar stattfinden. Als Berichterstatter ist es für mich zentral, dass der MiCA-Bericht nicht als de-facto #Bitcoin-Verbot missinterpretiert wird @btcecho 1/4
The MiCA, first introduced to the European Commission in September 2020 and adopted by the European Council in November 2021, aimed “to create a regulatory framework for the crypto-assets market that supports innovation and draws on the potential of crypto-assets in a way that preserves financial stability and protects investors.” As the rapporteur of that vote — the person appointed to report on its proceedings — Berger said he canceled the vote, not specifying when it might be scheduled again.
Related: How should DeFi be regulated? A European approach to decentralization
The push for clarification may have been prompted by reports that a leaked
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