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Carbon credit standards body Verra suspends blockchain, crypto tokenization

Friday 27 May 22 11:45am

 

YESTERDAY Verra, the Washington-based non-profit that sets voluntary carbon credit standards, said it is immediately stopping the practice of creating blockchain tokens or instruments based on retired credits

Many blockchain and crypto platforms that offer tokenization use Verra registered carbon credits and mark the credit as ‘retired’ on the registry before creating a token to prevent double spending. However, some leave the credit active.

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