Why Cardano May Be the Safest Cryptocurrency to Hold During a Climate Emergency
The current global heat wave has prompted all kinds of talk about a climate emergency. This is potentially big news not just for industries that have been directly linked to climate change -- such as the oil and gas industry -- but also for industries only tangentially related, such as crypto. After all, crypto has been coming under increasing scrutiny by regulators for its energy consumption habits. As a result, it's time to think about climate-proofing your crypto portfolio.
The best place to start is with a green, eco-friendly cryptocurrency like Cardano (CRYPTO: ADA), which also happens to be one of the top 10 cryptocurrencies in the world by market capitalization. Even before the latest debate about climate ever started, it prided itself on its eco-friendly blockchain and commitment to sustainability. As a result, Cardano is uniquely positioned to withstand a climate emergency.
The crypto industry has always functioned under a high degree of regulatory risk. But now it's facing a new one. What happens, for example, if regulatory agencies and other government authorities start enacting climate-related executive orders to regulate, restrict, or limit certain industries? In mid-July, for example, the European Central Bank (ECB) warned that it might place a ban on Bitcoin (CRYPTO: BTC) mining as part of a broader crackdown on fossil fuels. It might also introduce carbon taxes on crypto transactions. The ECB compared Bitcoin to a "fossil fuel car," primarily based on Bitcoin's well-known energy consumption problem.
Source Fool.com
