European institutions have reached an interim consensus on a set of EU regulations that will burden crypto companies with the obligation to help prevent money laundering, among other illicit activities potentially involving digital assets. The progress comes as the Union seeks to comprehensively regulate the continent’s cryptocurrency market. EU Officials and Lawmakers Agree on AML…
Read more
The European Commission disagrees with some provisions in the crypto regulatory proposal approved recently by the European Parliament. The executive arm in Brussels is unhappy with certain anti-money laundering measures, according to a media report quoting unofficial correspondence.
European Commission Working on Compromise Proposal for EU Crypto Rules
Europe’s upcoming Markets in Crypto Assets…
Read more
Members of the European Parliament have approved a controversial regulation that could undermine the decentralized finance (defi) sector in the EU. Some of its provisions, which are yet to be coordinated with other European institutions, aim to introduce restrictive measures for transactions involving privately managed crypto wallets. EU Parliament Moves to Introduce Verification for Defi…
Read more
The Markets in Crypto Assets (MiCA) regulatory package passed another potential hurdle this week and is moving to the next stage of the EU’s legislative process. Proponents of a controversial text prohibiting proof-of-work (PoW) cryptocurrencies, which was recently dropped from the draft, did not take an opportunity to block the draft’s progress. EU Parliament, Commission…
Read more
European Parliament’s economic and monetary affairs committee has voted against banning proof-of-work-based assets for companies in the European Union. An alternative proposal on crypto assets by European Parliament member Stefan Berger receives support instead. Committee Rejects Proof-of-Work Ban The Committee on Economic and Monetary Affairs (ECON) voted on the proposed Markets in Crypto Assets (MiCA)…
Read more
Changes to the EU’s MiCA proposal to regulate crypto markets, suggested shortly before a vote on the package, indicate a bitcoin ban is still a possibility. Despite recently removing wording that would have prohibited coins with energy-intensive mining, some members of the European Parliament are now targeting “unsustainable” cryptocurrencies. New MiCA Paragraphs Call for Subjecting…
Read more
The European Union’s regulatory proposal for crypto markets, MiCA, has been filed with the European Parliament. The latest version of the draft framework does not feature a controversial provision that could have effectively prohibited cryptocurrencies like bitcoin that rely on proof-of-work mining. Economic and Monetary Affairs Committee to Vote on Latest MiCA Draft on March…
Read more
A text threatening to prohibit cryptocurrencies relying on energy-intensive proof-of-work mining has been deleted from the draft legislation aimed at regulating the European crypto space. The move comes after the controversial provision sparked objections from the crypto community. MiCA Proposal Drops Ban on Proof-of-Work Coins Wording that could have banned cryptocurrencies with proof-of-work (PoW) mining,…
Read more
The European Parliament will not hold a planned vote on crypto regulations after texts that can be interpreted as an attempt to ban coins with energy-intensive mining sparked negative reactions. The lawmaker leading the legislative effort says the matter needs clarification before MEPs can have a say, but the head of the ECB has insisted…
Read more
A group of EU nations have reportedly been lobbying to entrust oversight of the crypto space to a new anti-money laundering (AML) agency. Behind the move are concerns that companies dealing with digital assets can be engaged in the processing of illicit funds. Germany Leads Push to Place Crypto Firms Under EU Anti-Money Laundering Supervision…
Read more
