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The EU has moved a step closer to regulating crypto assets, following a EU Parliamentary committee vote this week, with 31-4 in favor of a new draft of the Markets in Crypto Assets (MiCA) framework, with 23 abstentions.
The committee removed a provision to limit the use of cryptocurrencies that rely on the energy-intensive consensus mechanism known as proof-of-work. Instead, voted in favor of an alternative that would require the European Commission to come up with a a legislative proposal to include provision for sustainable activities for any crypto-asset mining activities that contribute substantially to climate change, by 1 January 2025.
#cryptocurrency #cryptoregulation #cryptoassets #crypto #nft #cyberlaw #regulations #cyptoregulation #compliance #cdbc #kyc #aml
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