The crypto sector regulations bill MICA (Markets in Crypto Assets) is entering the next phase of discussions without the point that offered to ban the use of BTC and other cryptos that use Proof-of-Work algorithm, and require electricity for their operations.
Related: European CB will strengthen control over crypto payments
On March 14, The EU legislative branch voted and rejected the point banning PoW-based digital currencies. In the last several days, lawmakers have been discussing the mandate for the proposed landmark legislation for digital assets. Later, the three institutions of the EU: Parliament, Council, and Commission will discuss the package.
Announcing the news on Twitter, the MICA rapporteur Stefan Berger said the Parliament shows innovative strength with this move. He also wrote being optimistic that as a result of discussions the authorities will agree to the bill. Berger said he suggested including crypto asset mining to Taxonomies for sustainable finance by 2025 to cut off carbon footprint.
While MICA is close to becoming a law, there are members of the Parliament who don't support the bill. Joachim Schuster tweeted that crypto presents an unclear financial system and requires a lot of energy.