Europe moves toward regulatory action on crypto’s environmental impact, energ...
After rejecting a proposal to ban crypto mining, the EU is looking at disclosure and mitigation measures to make crypto assets more sustainable in the coming years. The European Union (EU) released a package of documents Oct. 18 relating to an action plan for implementing the European Green Deal and the REPowerEU Plan, both of which are aimed at energy savings by digitalizing the energy sector. The European energy planners have cryptocurrency in their sights along with myriad other energy users.The REPowerEU Plan was announced in May as a response to the Russian invasion of Ukraine, which....
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It’s too early to predict the full regulatory impact of distributed ledger technology (DLT), a representative of Europe's securities watchdog argued this week. Patrick Armstrong, a senior risk analysis officer for the European Securities and Markets Authority (ESMA), made the comments during a speech at a securities industry event in Oslo on 23rd January. In his remarks, Armstrong touched upon a number of the factors changing securities trading in Europe, including distributed ledgers. Notably, he indicated it is not yet possible to say which regulations might need to change due to the....
As the spotlight turns once again towards the environmental impact of blockchain technologies, support for the Crypto Climate Accord has come from curious corners of the industry, raising questions about its signatories’ motives. Authenticity of CCA’s Support Remains Debatable With concerns surrounding blockchain’s environmental impact garnering a lot of attention, the alarms have grown so loud that crypto mining was the hottest topic of discussion during this year’s UN World Environment Day. This echoed increased support for initiatives designed to restore the....
Crypto exchange BitMEX has followed through on its earlier commitment to carbon neutrality. On Tuesday, the exchange announced its plans to offset the environmental footprint of its Bitcoin transactions. It also announced research plans as well as partnerships with organizations dedicated to using innovation to lower cryptocurrency’s environmental impact. Related Reading | Tesla Halts Bitcoin Payments Over Environmental […]
“Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters,” said Mozilla co-founder Jamie Zawinski. The Mozilla Foundation has put cryptocurrency donations on hold following a community backlash sparked by trenchant criticism from co-founder Jamie Zawinski.Last week the development company behind the Firefox browser tweeted an appeal for donations in cryptocurrency.But earlier today, Mozilla announced it had paused crypto donations due to the online discussion around crypto’s environmental impact. Last week, we....
Critics claimed the Biden administration's reports focused on environmental concerns over crypto's energy consumption and illicit uses rather than the technology's benefits. Members of the crypto space and advocacy groups reacted to United States President Joe Biden’s administration releasing a regulatory framework on digital assets, with many suggesting the White House focused on the potential negative aspects of crypto.In a Friday announcement, the White House said that federal agencies and departments had submitted nine reports as required by Biden’s executive order on crypto from....