Striving for transparency and sustainable development, CoinsPaid aligned with the new MiCA standards to disclose the environmental impact of cryptocurrencies it utilizes.
CoinsPaid, a leading provider of cryptocurrency payment solutions, partnered with the Crypto Carbon Ratings Institute (CCRI), an expert institution specializing in data on the carbon footprint of crypto-related activities. The collaboration aims to evaluate the carbon emissions of CoinsPaid’s digital assets and develop strategies to minimize their environmental impact.
With the introduction of the Markets in Crypto-Assets (MiCA) regulation in the European Union, new requirements demand crypto companies disclose environmental performance indicators. Token issuers and crypto-asset service providers (CASP) must now share detailed info about the ecological risks associated with the consensus mechanisms of cryptocurrencies they employ.
Key objectives of the CoinsPaid and CCRI collaboration:
- Transparency in sustainability practices. Conducting comprehensive research and regular audits to identify and monitor sources of greenhouse gas emissions.
- Building trust. Demonstrating real efforts in reducing environmental impact to eco-conscious clients and business partners.
- Proactive approach. Developing long-term strategies that not only comply with MiCA regulations but also set an industry benchmark for environmental responsibility.
By working with the CCRI, CoinsPaid aims to solidify its reputation as a responsible market participant, fostering trust with partners and customers concerned about minimizing the environmental risks of digital assets. This initiative underscores the company’s commitment to driving the crypto industry’s growth while promoting environmentally sustainable business practices.
