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Analysis: China s bitcoin crackdown sparks fears of dirtier cryptomining

6 Min Read TBILISI/KUALA LUMPUR (Thomson Reuters Foundation) - China’s sweeping ban on cryptocurrency mining delivered a blow to an industry criticised for its environmental impact, but emissions from the sector could grow as a result unless other countries follow China’s lead, climate and tech experts said. Bitcoin’s value tumbled last week after China’s central bank urged banks and payment firms in the country to crack down harder on cryptocurrency trading, in the latest tightening of restrictions on the sector by Beijing. This was good news for climate activists, who have voiced concerns over the potential for the energy-hungry cryptocurrency mining industry to disrupt international efforts to rein in global warming.

United kingdomNew yorkUnited statesCornell universityEl salvadorGeorgia generalEswar prasadJumana faroukyNayib bukeleUmberto bacchi umbertobacchiShota siradzePete howsonMegan rowlingCambridge universityThomson reuters trust principlesThomson reuters

China s bitcoin crackdown sparks fears of dirtier cryptomining | Money

Tuesday, 29 Jun 2021 11:27 AM MYT Bitcoin and other cryptocurrencies are created or mined by high-powered computers competing to solve complex mathematical puzzles, which guzzle energy and fuel planet-warming emissions unless they consume electricity from renewable sources. Reuters pic Follow us on Instagram and subscribe to our Telegram channel for the latest updates. TBILISI, June 29 China’s sweeping ban on cryptocurrency mining delivered a blow to an industry criticised for its environmental impact, but emissions from the sector could grow as a result unless other countries follow China’s lead, climate and tech experts said. Bitcoin’s value tumbled last week after China’s central bank urged banks and payment firms in the country to crack down harder on cryptocurrency trading, in the latest tightening of restrictions on the sector by Beijing.

United kingdomNew yorkUnited statesCornell universityEl salvadorGeorgia generalEswar prasadNayib bukeleShota siradzePete howsonCambridge universityNorthumbria universityInternational settlementsHowson at northumbria universityThomson reuters foundationThomson reuters

Bitcoin Might Be a Lot of Things, but It s Still Not Money

Bitcoin Might Be a Lot of Things, but It s Still Not Money
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Guerre commerciale : à l Ouest, du nouveau ?

Guerre commerciale : à l Ouest, du nouveau ?
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Professor Eswar Prasad: Bitcoin s 3 flaws could spur demand for other cryptos

Professor Eswar Prasad: Bitcoin s 3 flaws could spur demand for other cryptos
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