IN DEPTH: The European Parliament is a step closer to adopting its landmark Markets in Crypto Assets framework, but parliamentarians can still make a last-ditch effort to include a provision that would limit proof-of-work mining. iamsandali reports
that Green and Left parliamentarians pushing for this provision wanted to ban cryptocurrencies that use renewable energy, Berger, who proposed the alternative compromise that ended up winning the majority vote last week, fired back saying Andresen’s reasoning was “a clear attempt to conceal the potential for harm of one’s own proposal.”
“There’s never a dull moment in this nascent industry. Although the proof-of-work amendment, which would have meant a de facto EU ban on Bitcoin and Ethereum, was voted down, the sigh of relief we are breathing is likely short-lived,” said Ian Taylor, Executive Director at CryptoUK, an independent industry association, in a statement.
Hansen said that that amendment would have had dramatic consequences on the European crypto market, since it would have pushed EU consumers towards foreign, unregulated exchanges and taken European companies, capital and talent out of the EU.
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