The latest draft of the controversial MiCA report still contains language that could stop crypto service providers from transacting in proof of work coins. As a result, a potential proof of work ban is now possible in Europe. Earlier this month, the MEP responsible for reporting on MiCA, Dr Stefan Berger, confirmed that the contentious Article 61 paragraph 9c had been removed.
Berger, who lists his role in the MiCA committee in his Twitter bio, believes that the regulatory changes will be pioneering in terms of innovation for the crypto markets. Similarly to Biden’s executive order, the MiCA focuses primarily on protecting citizens when investing in crypto assets.
Troubling wording for Bitcoin
However, the MiCA report includes some wording far removed from the White House document. If passed, the EU act would effectively ban exchanges from listing any crypto asset that doesn’t meet their ‘environmental sustainability criteria’.
9b. Crypto-asset service providers shall not provide services related in any way, shape, or form to crypto-assets that do not meet the environmental…