EU lawmakers to vote on new regulatory framework for crypto assets

Draft of proposed law up for deliberation today

European Union (EU) lawmakers are expected to vote today, Monday, a proposed legislation regulating crypto markets that could result in a ban of digital currencies such as Bitcoin and Ethereum in Europe.

The regulatory framework, called the Markets in Crypto-assets (MiCA), will be taken up for a vote by the Economic and Monetary Affairs Committee.

The final draft of the law has reportedly been amended and now contains text that will require crypto assets to meet "environmental sustainability criteria."

The proposed bill states that digital assets traded in the EU will have to meet "minimum environmental sustainability standards" and "maintain a phased rollout plan", according to Bloomberg.