Last month, the European Parliament of bitcoin The bill, which allows it to ban cryptocurrencies that work with the Proof of Work mechanism, including the Proof of Work mechanism, was postponed indefinitely after the reaction of the crypto money community, and then it was announced that parts of the bill that could cause Bitcoin to be banned were removed.
It was announced that the voting would take place on Monday, March 14, after the restrictions that would cause the ban were removed from the bill. EP Member Stefan Berger assured that the BTC ban was lifted from the bill.
The European Parliament Allegedly Re-added the Phrases Regarding the BTC Ban to the Draft Bill with a Different Sentence!
Despite this, according to the latest developments, parts that can be interpreted as a Bitcoin ban were added to the bill, which will be voted on Monday, insidiously. DeFi platform Unstoppable Finance manager Patrick Hansen warned users about this move of the European Parliament.
1/ Important addition 📢
There are 2 alternatives to the Article 2a (POW) that will both be voted on. The 2nd one doesn’t plan a ban.
Only 1 of the 2 will make it through. There seems to be a very thin majority against the ban right now, but tbd.
Here is who supports what 👇 https://t.co/Rxjiyv4fAk
— Patrick Hansen (@paddi_hansen) March 12, 2022
Here is the text of the European Parliament’s New Bill Allegedly Containing the Bitcoin Ban
Words that have the same meaning as the Proof of Work ban were placed in the voting text to be held on Monday.
According to the text, “publishing, offering or accepting for trading crypto assets deemed unsustainable” will be prohibited:
“Cryptocurrencies The consensus mechanism used to verify transactions before they can be published, offered or accepted for trading within the European Union will need to comply with minimum environmental sustainability standards.
Crypto assets that are requested to be issued, offered and accepted for trading within the European Union will ‘by this date’ need to establish and adhere to a phased plan to comply with the set requirements.
It is not yet clear by what date cryptocurrencies will have to comply with the requirements set by the AP. However, the ban will also affect Bitcoin, as it is not possible to establish a plan by which Bitcoin will leave the Proof of Work system.
Paris MP Pierre Person also confirmed the ban in a way, saying that the MiCA regulation, which will be voted on Monday, will adversely affect the future of Proof of Work cryptocurrencies.
(1/9) MiCa regulation will be voted on next Monday. As it stands, it definitively condemns the future of crypto-assets in Europe. By banning Bitcoin and Ether, by complicating the use of NFT and DeFi, the European Parliament is mortgaging our monetary and financial sovereignty.
— Pierre PERSON (@Pierr_Person) March 11, 2022
In addition, an alternative text to the said article in the draft will be voted at the same time. There is no prohibition phrase in the alternative text. However, considering that the article containing the ban is supported by the Greens, Social Democrats and Left groups in the European Parliament, we see that those who support the alternative text are in the minority.
Stating that he got the information he obtained from the sources in the European Parliament, Patrick Hansen stated that the information is constantly changing, so one should be careful.
*Not investment advice.