European rules for cryptos, what will that mean?

European rules for cryptos are coming. A plan to ban cryptocurrencies that work with proof-of-work, such as bitcoin and ethereum, has not yet made it, but what does the rules say and what will they mean?

The plan to ban proof-of-work cryptos was on the table, criticized, dropped from the proposal, reappeared, and then failed to win a majority. Cryptocurrency enthusiasts could have felt a rollercoaster ride with the recent developments surrounding MiCA, the European Union’s regulations for the Markets in Crypto-Assets, as a ban on the current implementation of bitcoin and ethereum was on the table.