European Parliament does not pass PoW ban, MiCA draft amendment banning Bitcoin due to energy consumption rejected

The MiCA (Markets in Crypto Assets) regulatory proposal is a comprehensive regulatory framework for digital assets in the European Union. Recently, a proposed amendment has sparked strong opposition in the industry: it would restrict the use of high-energy-consuming cryptocurrencies based on Proof of Work (PoW), such as Bitcoin and the current Ethereum, in the 27 member states of the EU. By January 2025, if these cryptocurrencies fail to meet environmental sustainability goals, related services will be banned.

MiCA Markets in Crypto Assets, a regulatory draft for the cryptocurrency market, is a comprehensive regulatory framework for managing digital assets within the European Union. Recently, a proposed amendment has sparked strong opposition in the industry: a ban on high-energy-consuming cryptocurrencies based on Proof of Work (PoW), such as Bitcoin and the current Ethereum, within the 27 EU member states by January 2025, if they fail to meet environmental sustainability goals, leading to a prohibition on related services.

On the evening of the 14th, European Parliament members Stefan Berger and developer Patrick Hansen both shared good news, stating that the European Parliament did not pass the PoW ban with a vote of 32 to 24. The paragraph has been removed, but the issue is not yet fully resolved. Developer Patrick Hansen mentioned that the mining issue may not be discussed further in the MiCA draft but will be addressed within the EU's sustainable economy category. CoinDesk also indicated that in another new version of the draft, the "consensus mechanism must still meet minimum requirements for environmental sustainability."