Update: Yesterday, when cryptos suddenly tumbled amid the market's delayed realization that the EU was set to vote on Monday on a new regulatory framework for crypto assets which could accelerate passage of a measure banning "proof of work" mining, which industry executives said could "practically ban key digital currencies including Bitcoin and Ethereum in Europe", we said (see below) that the good news for crypto bulls is that "a small majority of committee members may vote against the measure." If so, we added, "the selloff on Sunday night is merely the latest successful attempt at shaking out the weak holders."

That's precisely what happened because moments ago, the EU Parliament voted against a proof-of-work ban.

Crypto pundit Patrick Hansen has more details in a tweetstorm: 

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BREAKING: The ECON committee of the EU Parliament just voted against the de-facto POW-ban: 32 against, 24 in favor.

Big relief & political success for the bitcoin & crypto community in the EU. Will share a breakdown of the vote and what's next here in this thread.

A majority of MEPs from the EPP, ECR, Renew & ID voted against it, while a minority of MEPs from Greens, Socialists and Democrats (S&D), and European United Left (GUE) mainly voted in favor. Instead, this alternative amendment from Stefan Berger was supported.