Fears are growing that major cryptocurrencies such as Bitcoin and Ether could be banned in Europe.
Although Ethereum is currently in the throes of transitioning to a more eco-friendly consensus mechanism known as Proof-of-Stake, there are fears that Bitcoin's decentralized nature would make compliance impossible. Ledger added that MiCA would send shockwaves through the entire crypto sector, causing the continent's "innovative and growing" digital asset economy to vanish:
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