UK Government Survey Shows 45% of Britons Would Ban Cryptocurrencies for Environmental Reasons

Just before the 26th United Nations (UN) Climate Change Conference (COP-26), the UK government polled 3,071 adults from Britain to ask them their opinions on cryptocurrencies and the crypto industry’s effects on climate change. According to the survey, 45% of Britons would support banning crypto assets for environmental reasons and 18% would oppose a ban. Even though 45% of the polled crowd would ban crypto assets, very few respondents think a ban would be effective.

45% of British Adults Surveyed Would Ban Crypto Assets Over Climate Change Concerns

This week climate change has been more topical than usual because of the COP-26 event being held in Glasgow. COP-26 is basically a conference hosted by the UN where global participants discuss solutions for mitigating climate change. Political party members who attend typically make national pledges in order to combat the so-called climate crisis. During this year’s COP-26, the U.K. government decided to survey 3,071 Britons before the event started to get opinions about climate change and cryptocurrencies.

The survey’s researchers note that the “environmental impact of cryptocurrency is well-documented” despite the fact there are large discrepancies with the data that shows the impact. “A new Yougov survey looking at support for different measures finds that Britons tend to support banning cryptocurrency for environmental reasons,” the researchers detail. “By 45% to 18%, Britons say they would support banning cryptocurrencies like Bitcoin in order to help tackle climate change, including 29% who would ‘strongly support’ it.”

Young Adults More Inclined to Support Banning Cryptos — Far Fewer People Think a Ban Would Be Effective

Age played a key factor in the Yougov survey as the youngest adults were more inclined to support banning crypto assets for environmental concerns. While men and women both had roughly the same amount of people willing to ban cryptocurrencies, men are twice as likely to be opposed (25% vs 12%). “Women are more likely to have answered ‘don’t know’ on the topic (45% vs 28%),” explained the Yougov researchers. Older adults were far less likely to choose to ban crypto assets over climate change.

The most interesting part of the survey is that while 45% of the British respondents said they would support a ban, fewer people agreed a ban would be effective. Despite the mob mentality to ban cryptos, Yougov’s survey participants show “Britons are doubtful” ban mandates would actually work. “Only a quarter (26%) think that banning cryptocurrency would be effective at tackling climate change,” the Yougov survey concludes. “While Britons support banning cryptocurrency by 45% to 18% to help combat climate change, they think it will be ineffective at doing so by 32% to 26%,” the poll researchers add.

What do you think about the latest Yougov survey from the UK government that says 45% of British adults would ban cryptos to help fight climate change? Let us know what you think about this subject in the comments section below.