NEW!Incredible offer for our exclusive subscribers! Read More

ECB's Fabio Panetta Claims Bitcoin Threatens Global Sustainability Efforts

1 Mins read

In his May 11 blog post, Fabio Panetta, a member of the ECB executive board, writes that cryptocurrency mining is posing a threat to global suitability efforts because of its huge CO2 consumption:


The enormous energy consumption and associated CO2 emissions of crypto-asset mining could undermine global sustainability efforts.

The famed Italian economist adds that Bitcoin, the largest, now requires more energy than the Netherlands.

Panetta believes that mitigating the environmental impact of crypto mining should be a global conversation:

Controlling and limiting the environmental impact of crypto assets, including through regulation and taxation, should be part of the global discussion.

A growing issue

With Bitcoin’s hashrate rebounding to new all-time highs, the amount of energy required for confirming transactions continues to grow, which attracts mounting criticism from environmental activists and politicians alike.

As reported by U.Today, Massachusetts Senator Elizabeth Warren described crypto’s carbon footprint as “a real issue.”

Earlier this month, New York State Senator Kevin Parker introduced a bill that would temporality suspend crypto mining in the state.

Related posts
AltcoinsBTCBusinessCryptoETHMiningNewsOtherStock collaborates with to offer Crypto services for its users

1 Mins read has collaborated with to give crypto gamblers with a top-tier exchange where they can deposit, sell, and even convert Crypto…
AltcoinsBTCBusinessCryptoETHOther staking platform with the best percentages or is it a temporary phenomenon?

1 Mins read
As it became known, tradex-wallet announced the announcement of a new staking program, rewards and large payouts for staking, the platform raffles…

Cryptwex & 15 More Crypto Exchanges Face Ire of South

2 Mins read
Sixteen international crypto exchanges. Including and the Mexican heavyweight MEXC. Have landed in hot water with financial regulators. For failing to comply with local guidelines….
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *