HomeBitcoinMiCA law passed today: will cryptos be banned in Europe?

MiCA law passed today: will cryptos be banned in Europe?


Changes to the EU’s MiCA proposal to regulate crypto markets, suggested shortly before a vote on the package, indicate that a bitcoin ban is still possible. Despite the recent removal of language that would have banned energy-intensive bitcoin, some members of the European Parliament are now targeting “unsustainable” crypto-currencies.

The vote on MiCA takes place today in the European Parliament, many voices have been raised in recent days against a potential ban on proof-of-work mining in member states, consensus used by King Bitcoin (BTC ). In the midst of these voices, we find in particular Pierre Person, deputy of Paris who stands out in the National Assembly for his fight in favor of healthy regulation of our ecosystem:


If MiCA were to prohibit proof-of-work mining in the territory of the European Union, it would certainly be a serious strategic error in our policies, and it would be damaging in the long term for our competitiveness. Only here, if the interpretation of the policies is still to be defined, the text does not mention prohibition, even if it is true that a point is confusing. Indeed, the text calls on the committee to be more clear, it wishes:

“… identify consensus mechanisms that could pose a threat to the environment with respect to energy consumption, carbon emissions, real resource depletion, waste, and specific incentive structures. Unsustainable consensus mechanisms should only be applied on a small scale. »

The text effectively highlights the environmental problems of this consensus. It highlights the use of fossil fuels for part of the mining and the replacement of the equipment used which leads to electronic waste, all of which could call into question the Paris climate agreements.

It is also possible that future regulations only concern large structures without worrying individuals mining at home. These can be considered as operating on a “small scale”, but these are only guesses.

Further on, however, it is mentioned that what is lacking in proof of work is a bias that is present throughout the industry in the broad sense of the term, and not only in the crypto-asset sector. It is therefore put forward that the problem must be dealt with globally, so as to transform our society in its energy consumption.


Leave a Reply


Argo Blockchain Sells Bitcoin Mining Facility to Galaxy Digital Holdings in Struggle to Stay Afloat.

The Bitcoin mining crisis continues as miners continue to sell their facilities. Argo Blockchain saw its shares rise in London trading yesterday after agreeing to...

Cryptocurrency Winter to Last “At Least One More Year”, Says Octopus Network Founder.

Octopus Network, a multi-chain cryptocurrency network based on the NEAR protocol, has laid off around 40% of its core team and reduced salaries for the...

MicroStrategy Boosts Bitcoin Holdings with $42.8 Million Purchase.

MicroStrategy, the company co-founded by Michael Saylor, has announced that it has made further purchases of Bitcoin since November 1st. According to today's report, the...

China’s CBDC wallet relies on an age-old custom to increase adoption.

The digital yuan wallet app now includes a traditional Chinese method of donating money that has gone virtual with the rise of digital payments. China's wallet...

Follow us


Most Popular

%d bloggers like this: