The European Union’s proposed Market in Crypto Assets has progressed to the trilogue negotiation without the provision challenging proof-of-work mining.
#MiCA: Gute Nachricht! Mein Mandat wird NICHT gechallenged. Ich werde nun in die Trilog-Verhandlungen gehen mit der Position, dass es keinen #PoW-Ban geben wird. Das EU-Parlament gibt mir Rückenwind & zeigt Innovationskraft /1
— Stefan Berger (@DrStefanBerger) March 25, 2022
BTCUSD is up +2.13%
Other issues in the policy framework include the inclusion of non-fungible tokens and decentralized finance. The package also touches on the agencies that should be given the supervision power of the cryptocurrency sector.
The parliament did not challenge the negotiation mandate for MiCA after the lapse of the deadline on March 24.
European Union legislators have been assessing the mandate for the legislation around digital currencies with no provision limiting the proof-of-work consensus algorithm.
The lawmaker in charge of the MiCA framework had raised concerns at the start of the week that the EU leaders pushing for the limitation of the proof-of-work consensus were likely to subject the legislation to a parliamentary vote.