# Crypto: ECB President Wants Fast Approval of New Broad Crypto Regulation

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Last modified: 2022-03-02

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By Paul Ebeling · 2022-03-02
Tags: ECB, regulation, Paul Ebeling, Crypto, crypto, Bitcoin, Ethereum, Knightsbridge Insights, Non-Fungible Token, Mining, Blockchain, DeFI, 2022, Business, Knights, Metaverse, MiCA
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#ECB #crypto #MiCA #regulation

"*The vote on proposed crypto regulation for the EU is being delayed just days after the head of the ECB urged the legislation’s passage*"--Paul Ebeling

At an informal meeting last wk, ECB President Christine Lagarde said it is *“critically important”* that European Parliament passes its Markets in Crypto-Assets regulation *“as quickly as possible.”*

MiCA aims to regulate crypto throughout the EU by establishing financial stability safeguards and investor protections.

However, a German member of the European Parliament, says that a MiCA vote scheduled for Monday was canceled.

Explains the lawmaker in a translated tweet: *“As a rapporteur, it is crucial for me that the MiCA report is not misinterpreted as a de facto Bitcoin ban. The discussion about MiCA indicates that individual passages of the draft report can be misinterpreted & understood as a PoW [Proof-of-work] ban. It would be fatal if the EU Parliament sent the wrong signal with a vote under these circumstances.*

*In this context, I see the urgent need to resume talks and negotiations with the parliamentary groups on this subject and to create clear facts on the question of PoW.*

*I will make another attempt with all stakeholders to reach a compromise that provides crypto assets with a proper legal framework but does not challenge PoW.”*

Have a happy, prosperous day, Keep the Faith!

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