After imposing regulations on cryptocurrencies, Abu Dhabi officials are reiterating their commitment to ban the practice of cryptocurrency mining on land reserved for agriculture and livestock, as reported by Data Center Dynamics Ltd. reported.
The UAE metropolis has decided to once again speak out publicly on the issue after municipal authorities recently discovered evidence of cryptocurrency mining sites on many farms in the city. Authorities confiscate mining equipment from the sites, and any new offenders will be fined AED 100,000 (around $27,000), according to the newspaper.
The Abu Dhabi Agriculture and Food Safety Authority issued a statement saying: “ADAFSA reiterates its call on all farm owners and farm workers – in both the crop and animal sectors – to refrain from engaging in activities that do not fall within the approved agricultural and livestock economic uses as defined by the authority.
The statement went on to say: “Such practices jeopardize continuity of support and services and conflict with ADAFSA’s sustainability policies aimed at combating inappropriate practices on farms. »
The long-term viability of cryptocurrency remains a controversial topic, with both sides of the debate firm in their beliefs. From an environmental perspective, there are signs of progress as well as lingering concerns. On the one hand, some energy companies are starting to invest in clean energy, as well as crypto, with the aim of providing electricity in an environmentally friendly way. The popular cryptocurrency Bitcoin also now receives more than half of its energy from more sustainable sources (42.6% renewable and 9.8% nuclear), according to a recent study.
That being said, criticism remains of the high energy requirements required for traditional cryptocurrency mining, particularly when the energy provided helps trap the planet’s heat. There is also evidence linking some crypto operations to significant environmental damage (and even human health problems).
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Nonetheless, the cryptocurrency is likely to stay. It makes sense, then, that companies in various sectors, as well as private citizens and public regulators like those in Abu Dhabi, are trying to determine how or if they can best use it as a source of additional profit, while controlling potentially damaging forms of mining.
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