Is Bitcoin green or not? Today Square, Citi and Bessemer Trust have given their opinion regarding this historical debate in the crypto market.
The leading crypto is or is not environmentally friendly
As many will know today is Earth Day and therefore it makes perfect sense for the debate on the environmental impact of Bitcoin to resume in the world.
In this regard, Square published a report where it described the opportunity for Bitcoin to make the transition to a cleaner and more resistant electricity grid. In fact, the report is titled “Bitcoin is key to a clean and abundant energy future.”
In particular, the report ensures that Bitcoin mining is an opportunity for a global transition to renewable energy.
However, and as is normal, not everyone has such a positive view on whether or not Bitcoin is green. In this sense, Citi assures that the energy consumption of Bitcoin is, without a doubt, a big problem.
Still, Citi also recognizes that Bitcoin has the ability to go greener, especially given its decentralized nature.
Furthermore, in its latest Quarterly Investment Perspective report entitled ‘The Future of Money’, Bessemer Trust noted that Bitcoin is energy inefficient when compared to Ethereum.
There is no doubt that environmental concerns around Bitcoin have increased. In fact, as we reported on CryptoTrend, New York environmental groups fear that Bitcoin will give birth to dozens of fossil fuel-powered power plants.
Binance is under regulatory scrutiny
Today the Financial Times presented a report in which it assured that one of the most important crypto exchanges in the world is being carefully scrutinized by regulators.
As we have reported from CryptoTrend, Binance has launched a new crypto investment instrument, known as digital stock tokens. And, as we explained at the time, they are tokens that represent fractions of shares of companies such as Tesla and Coinbase.
In this regard, regulators have been concerned about the possibility that the tokens do not provide sufficiently transparent corporate disclosures, which would be required if they are considered as securities.
Binance explained to the FT that the tokens are an official product of CM-Equity that complies with the rules of the MiFID II markets of the European Union, as well as the banking regulations of BaFin.
«Currently, users only buy and sell the tokens to and from CM-Equity AG, which does not require a prospectus »said Binance.
Banning the crypto leader is almost the same as promoting it
According to UsefulTulip, P2P Bitcoin trading in Nigeria has increased by 27% since the country’s central bank (CBN) introduced restrictions.
Without a doubt, the results are very curious. It is clear that the country’s crypto users have managed to find ways to evade the imposed restrictions. And, paradoxically, this has exposed them to a greater extent to scams.
In this regard, it is worth asking, how effective is the crypto ban? Will India learn from this case?
In a few lines …
- Bitcoin’s hashrate declines as blackouts occur in China.
- Huobi Technology Holdings launches four digital currency funds targeting $ 100 million in assets for September.
- Coinbase managed to prevent its shares from being delisted from the German stock exchange Deutsche Boerse.