Regulation by enforcement, a fast and economical substitute for thorough rulemaking, is widely regarded as some of the U.S. executive agencies’ preeminent approach to crypto regulation. It could be summed up as letting crypto firms explore the boundaries of what is permissible by themselves and then punishing industry participants in case their exploratory actions come to look like a transgression. Others will take heed and learn from the explorer’s negative experience. While it is the United States Securities and Exchange Commission that gets accused of over-reliance on regulation by enforcement most frequently, other federal agencies do that as well. Last …

New York's legislature might ban proof-of-work (PoW) crypto mining in the state for at least two years, citing environmental concerns. Over the past weekend, on Saturday and Sunday, several crypto advocacy groups — including the Blockchain Association and Crypto Council for Innovation — rang the alarm over the upcoming vote in the New York Assembly. The state Senate's official webpage did not indicate a specific date for the vote. 1/ New York’s proposed moratorium on proof-of-work (S6486D/A7389C) mining has an unintended consequence - it puts innovation on the back burner. It would have significant implications for the security of major …

The United Nations Climate Change Conference, known as COP26, in Glasgow, Scotland catalyzed a commitment to carbon neutrality, achieving net-zero carbon emissions, requiring reducing emissions as much as possible, and balancing the remaining emissions with the purchase of carbon credits. A carbon credit reduces, avoids or removes carbon emissions in one place to compensate for unavoidable emissions somewhere else through certified green-energy projects. Carbon credits represent one ton in carbon emission reduction. They are 1) Avoidance or reduction projects — e.g., renewable energy (wind, solar, hydro, biogas) — and 2) Removal or sequestration — e.g., reforestation and direct carbon capture, …

Earth Day, a 52-year-old tradition celebrated annually on April 22, provides an opportune moment for the world’s citizens to reflect upon their environmental progress, as well as rally support for political policy-making, cultural climate awareness and individual commitments to sustainability. The emergence of blockchain and Web3 has provided the core architecture for a structural remodeling in public transparency, and as such, a technology that has the potential to be harnessed in service of the visions established by the United Nations Sustainable Development Goals and the Paris Climate Accord. Cointelegraph spoke to a number of environmental experts to gauge their opinions …

April 22 is Earth Day, and with environmental sustainability one of the key topics in the global debate surrounding Bitcoin (BTC) mining, analysts say the industry has begun to naturally gravitate towards cleaner and cheaper energy sources. According to a January report by the Bitcoin Mining Council, the global Bitcoin mining industry ran on an estimated 58.5% renewable energy by Q4 2021. The preference for clean energy is due to a combination of environmental conscientiousness, political pressures and an eye on the bottom line. It’s resulting in a sea change that could have ripple effects that extend well beyond Bitcoin …

Digital twin nonfungible tokens, or NFTs, aren't just reserved for consumer products anymore. Netherlands-based decentralized carbon credit exchange Coorest and conservation consulting firm PLCnetwork of the Southern Hemisphere teamed up to tokenize individual real-world endangered animals at game reserves and privately owned conservation areas in Africa. These wildlife NFTs enable holders to sponsor an elephant, lion, cheetah or rhino. Profits from the sales will go toward food, shelter and security for the animals they represent. Cointelegraph spoke to William ten Zijthoff, founder and chief executive officer of Coorest, to learn more about combining blockchain and sustainability with wildlife preservation. Coorest …

United States House of Representatives member Jared Huffman and 22 other lawmakers have requested the Environmental Protection Agency, or EPA, assess crypto mining firms potentially violating environmental statutes. In a letter addressed to EPA administrator Michael Regan on Wednesday, Huffman said he and other Democratic House members had “serious concerns” around crypto firms in the United States reportedly contributing to greenhouse gas emissions and not operating in accordance with either the Clean Air Act or the Clean Water Act. The lawmakers identified efforts to “re-open closed gas and coal facilities” as a means to produce energy for crypto mining operations …

Proof-of-stake blockchain protocol Algorand will implement a smart contract that will automate the offsetting of the network’s carbon emissions. In a recent announcement, Algorand revealed that a new smart contract would take a portion of each transaction fee within its blockchain network and automatically process it to purchase verified carbon credits at ClimateTrade, a blockchain-based carbon offset marketplace. According to Algorand Foundation CEO Staci Warden, the move will allow the network to scale while still being carbon negative. Warden told Cointelegraph that the smart contract will ensure that their blockchain remains eco-friendly in the long-term and hopes that other firms …

New dynamics in the energy sector are compelling providers to shift to sustainable and clean energy to combat climate change. While many challenges accompany the clean energy transition, a report claims that blockchain has the potential to help the industry achieve its climate action goals. The report, titled "Managing Climate Change in the Energy Industry With Blockchains and Oracles," was conducted by Tecnalia Research and Chainlink Labs. It outlines how blockchain features like tokenization, hybrid smart contracts and blockchain oracles can be applied to the energy sector to manage climate change. Jose Luis Elejalde, an energy executive at Tecnalia, said …

Requests for comments on a proposal urging the Wikimedia Foundation to stop accepting donations in cryptocurrency have closed, with the majority of users voting in favor. According to a Tuesday update on the proposal, roughly 71%, or 232 out of 326, Wikimedia contributors who responded requested that the Wikimedia Foundation — the nonprofit that hosts Wikipedia — stop accepting cryptocurrency donations. The arguments in favor of the proposition included environmental concerns surrounding Bitcoin (BTC) transactions and “the risk to the movement’s reputation for accepting cryptocurrencies.” The community first opened the proposal to comment on Jan. 10, expanding the discussion to …

What do a swimming pool, beef jerky, a caravan, timber, animal waste, a Guatemalan lake and a high school have in common? They’ve all been saved by Bitcoin (BTC) mining. From reusing “waste” heat to getting the job done — to receiving a cool blast of air to dehydrate meat, to cleaning up pollutants, Bitcoin mining does more than just secure the network. Here’s a round-up of seven times Bitcoin mining lent a hand or simply made the world a better place. Free Bitcoin mining education in Washington Sustainable Bitcoin mining company Merkle Standard has taken Bitcoin mining education into …

The United Nations Climate Change Conference of November 2021, known as COP26, in Glasgow, Scotland urged the world to commit to curbing contributions to carbon emissions. Achieving a net-zero world in less than 30 years is causing many to turn to blockchain technology, buy carbon offsets, and spark renewed interest in carbon capture. The United Nations Environment Programme (UNEP) has identified transparency, clean energy, carbon markets and climate finance as areas where blockchain technology can accelerate climate action. At the 2017 Paris Summit, the UN Climate Change Secretariat joined a multi-stakeholder group of organizations to establish an open global initiative, …