According to German crypto news sources, in the new version of the law called “Markets in Crypto Assets (MiCA)” cryptocurrency and bitcoin Removed statements that offended the community.
Phrases That Will Cause Bitcoin to Be Banned Completely Removed from the Bill
In the new version of the law, the parts that would cause the ban of Blockchain networks working with the Proof of Work mechanism such as Bitcoin were completely deleted.
If the law was passed in its old form, it could cause a great reaction in the crypto money world. Thus, the European Parliament abandoned a decision that would create quite a controversy as the war between Ukraine and Russia continued.
Last week, we reported that the members of the European Union parliament wanted to ban cryptocurrencies working with the Proof of Work mechanism by January 2025.
Members of parliament explained the reason for this ban as they thought these cryptocurrencies were not environmentally sustainable.
After the bill in question was met with a strong reaction, especially by the crypto money community, the European Parliament took a step back and postponed the voting that was supposed to take place on February 28 indefinitely.
EP Member Stefan Berger Pioneers in Amending the Bill
Stefan Berger, Member of the European Parliament responsible for legislation, made the following statements on the subject:
“It is extremely important to me that the MiCA bill is not considered a ban against Bitcoin.”
Berger, in his statement to local German sources today, announced that the paragraphs containing the prohibition of cryptocurrencies such as Bitcoin based on the Proof of Work mechanism have been completely removed from the bill.
With the controversial parts removed, it is thought that the bill may finally be put to the vote.
Berger, in his statement, stated that the negotiations on the bill have started again, but a specific date has not been discussed.