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    Home»Crypto»The European Union has endorsed Bitcoin and Ethereum, but the idea of a ban has been rejected.
    Crypto

    The European Union has endorsed Bitcoin and Ethereum, but the idea of a ban has been rejected.

    confirmed that the European Parliament's Committee on Economic and Monetary Affairs (ECON) rejected a proposal...
    NxtvertexBy NxtvertexMarch 14, 2022Updated:March 14, 2022No Comments1 Min Read
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    Image Credits [Bitcoin News]
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    Stefan Berger, a member of the European Parliament in charge of overseeing the MiCA regulation, confirmed that the European Parliament’s Committee on Economic and Monetary Affairs (ECON) rejected a proposal to prohibit proof-of-work consensus protocols like Bitcoin (BTC) and Ethereum (ETH) from being used in the EU.

    “Members have opened the way for future-oriented crypto regulation by supporting my proposal. It’s now up to the final vote to accept the report as a whole and send a strong signal for innovation “Berger sent out a tweet.

    Other members of the crypto sector have also confirmed the news:

    2/ A majority of MEPs from the EPP, ECR, Renew & ID voted against it, while a minority of MEPs from Greens, S&D, and GUE mainly voted in favor.

    Instead, this alternative amendment from Stefan Berger was supported.

    What does that mean for POW? pic.twitter.com/K11ZofVoN3

    — Patrick Hansen (@paddi_hansen) March 14, 2022
    BTC is trading at USD 38,954 at 16:08 UTC, unchanged from the previous day, while ETH is trading at USD 2,573 and is likewise unchanged from the previous day.

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