China’s Crypto Market: Digital Yuan as an Alternative to Private Cryptocurrencies

... carbon footprint China signed the Paris Climate Accords, undertaking to completely eliminate CO 2 emissions by 2060. Currently, however, China is still the world’s No. 1 environmental polluter—largely, because of the excessive use of electricity for bitcoin mining. Cryptocurrency mining has triggered rising demand for coal, prompting some producers to restart idle mines without official approval and entailing higher safety risks and a jump in fatal accidents. According to some estimates , each USD 1 of Bitcoin ...