Berger said in a Twitter post that the committee will vote on the Markets in Crypto Assets (MiCA) framework on March 14. “This will enable the EU to set global standards. Everyone involved has been asked to support the submitted draft and vote for the MiCA. Support for the MiCA is part of the EU Parliament’s support for technology and innovation,” he said. A strong sign for the boosting financial sector.” He said the regulation is aimed at clarifying the legal position and creating credible monitoring frameworks amid apprehensions about energy consumption from crypto mining. However, the committee will also discuss with the European Council and the European Commission after the vote. He clarified that the bill would not include any text that suggests a ban on proof-of-work crypto mining.
Heute habe ich den finalen MiCA-Entwurf eingereiicht. Der ECON-Ausschuss wird am 14. März 2022 hierüber abstimmen
️ Thread #MiCA— Stefan Berger (@DrStefanBerger) March 7, 2022
European authorities have been grappling with crypto assets in the past. Sweden’s financial regulator last year called for a ban on energy-intensive crypto mining processes. These included mining based on proof-of-work consensus methods for crypto assets such as bitcoin.
Concerns about the use of cryptocurrencies for money laundering and financing terrorist activities have also been raised in other countries, such as the EU. Recently, Canada’s Deputy Prime Minister and Finance Minister, Chrystia Freeland announced the introduction of legislation against money laundering and funding for terrorist activities. He had said that this would include all types of transactions including digital assets such as cryptocurrencies. In some other countries, there is a demand to make laws regarding cryptocurrencies.
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