European Parliament Postpones Vote on Cryptocurrency Bill Over Proof-of-Work Mining Concerns

©Reuters. European Parliament Postpones Vote on Cryptocurrency Bill Over Proof-of-Work Mining Concerns

The European Union Parliament is delaying a vote on a framework aimed at regulating cryptocurrencies amid concerns over proof-of-work mining.

In a Twitter (NYSE:) thread on Friday, European Parliament economics committee member Stefan Berger said the government body had canceled a vote on the Markets in Cryptoassets framework, or MiCA, planned for the Monday. Berger said parliament needed to clarify “the proof-of-work issue” in discussions with stakeholders to ensure a proper legal framework, adding that some might misunderstand the proposal as a ban on cryptocurrencies.

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“The debate on MiCA indicates that some parts of the draft report can be misunderstood and understood as a prohibition [de la prueba de trabajo]Berger said. “It would be fatal if the EU Parliament sent the wrong signal with a vote in these circumstances.”

Read the full article on Cointelegraph

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