The European Parliament’s Economic and Monetary Affairs Committee will host an important vote today.
Articles that prohibit cryptocurrencies working with the Proof Of Work model such as Bitcoin and Ethereum due to environmental concerns will be put to vote in the committee.
It is expected that the negotiations will start between 15.45-16.00 CEST and the voting will take place afterwards.
Update 15:45 Negotiations have started. You can follow it live here.
European Parliament Live Broadcast
The vote to be held here will not be the final vote on the regulation change. Although the provisions banning POW are approved by the committee, a new vote will take place in parliament for the amendment to become law.
What Happened?
Last month, the European Parliament of bitcoin The bill, which allows it to ban cryptocurrencies working with the Proof of Work mechanism, including the company, was on the agenda like a bomb.
The EU Committee announced that the Pow ban was lifted after the reactions.
However, shortly before the vote, it was seen that the Pow ban was re-added to the text with different expressions.
The controversial article regarding the Pow ban, which is perceived as a Bitcoin ban, is as follows;
“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.