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Esma issues warning on crypto’s ‘soaring’ environmental cost

The watchdog's note is expected to prompt a spike in regulatory initiatives focused on the 'greening of crypto'

Cryptocurrency mining in Russia
Cryptocurrency mining in Russia Photo: Getty Images

The European Union's top markets regulator has issued a warning on rising environmental damage from investing in digital currencies.

In its latest report on vulnerabilities in the sectors it oversees, the European Securities and Markets Authority voiced concern over the "soaring" environmental cost of cryptocurrencies, amid a broader regulatory focus on encouraging sustainable and environmentally-friendly initiatives within financial services.

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