The European Union rejected the proposed bill that could have banned the first and the largest crypto, Bitcoin.
Related: While EU Postpones Vote on PoW Tokens, ECB Urges to Act
Today, The Committee on Economic and Monetary Affairs (ECON) of the European Parliament voted on the Markets in Crypto Assets draft, with the majority saying no to it. MICA offered a regulatory ground for digital assets according to which, Bitcoin and other cryptos that rely on energy-intensive methods for producing new coins, called Proof of Work, should have been limited.
The vote was scheduled to take place on Feb 28, but it was delayed as Parliament member Stefan Berger said that more time was needed to clarify provisions. Previously, Berger wrote an article that said the EU must provide innovation and regulation by creating a harmonized market, and promoting legal certainty.
Writing about the voting results, Berger wrote that members prepare for future-focused crypto regulation.