EU bill known as MiCA, due to come into force in 2024, will force crypto currencies to disclose their carbon footprint and how their operations will impact the environment.

The EU wants to shame the world of crypto into greener practices and Bitcoin is first in line. The world's most popular crypto will likely fall under a scheme to grade digital currencies according to their energy efficiency, which the European Union plans to outline next week and roll out by 2025. The scheme aims to nudge crypto companies to ditch power-intensive mining practices that can see transactions over a year use up as much energy as some countries over the same period of time. Officials cheered earlier this month when Ethereum, the world's second most valuable crypto, switched over to greener processing software POS. While the White House has also warned that crypto mining could undermine U.S. efforts to reduce greenhouse gas emissions, Europe is the first major trading bloc to regulate digital currencies and aims to encourage other countries to follow its lead by establishing international crypto standards. (Source: Politico)