45% of Britons support a ban on cryptocurrencies due to environmental concerns.

The UK government surveyed 3,071 British adults about cryptocurrencies and the crypto industry’s impact on climate change. According to the poll, 45 percent of Britons support a ban on digital currencies for environmental reasons, while 18 percent oppose a ban.

Because of the COP-26 meeting in Glasgow this week, climate change has been more prominent than usual. COP-26 is essentially a UN-hosted conference where global entrants discuss climate change mitigation solutions. Members of political parties who attend typically make governmental pledges to fight the so-called climate crisis. Before the start of this year’s COP-26, the UK government decided to poll 3,071 Britons about their views on climate change and cryptocurrencies.

The survey’s researchers report that the “environmental impact of cryptocurrency is well-documented,” despite large disparities in the data that shows the effect. “A new Yougov survey looking at support for various measures finds that Britons tend to support cryptocurrency bans for environmental reasons,” the researchers write. “By 45 percent to 18 percent, Britons say they would call for a ban on cryptocurrencies like Bitcoin to help combat climate change, with 29 percent saying they would’strongly support’ it.”

The Yougov survey found that younger adults were more likely to support a ban on crypto assets due to environmental concerns. While men and women had roughly the same number of people willing to ban cryptocurrencies, men are twice as likely as women to be opposed (25 percent vs 12 percent ). “Women are more likely than men to have answered ‘don’t know’ on the topic (45 percent vs 28 percent),” Yougov researchers explained. Over climate change, older adults were far less likely to choose to ban crypto assets.

The survey’s most intriguing finding is that, while 45 percent of British survey participants said they would support banning, fewer agreed that a ban would be effective. Despite the mob mentality to ban cryptos, Yougov survey respondents show that “Britons are skeptical” that ban mandates would actually work.

Patrick

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