White House To Craft Bitcoin Mining Policy Addressing Energy Use: Report
The Biden administration is reportedly crafting policies intended to lower energy consumption and emissions from bitcoin mining.The White House is drafting policy to address bitcoin mining as it seeks to lessen energy consumption and emissions. In March 2022, President Biden signed an executive order in a “whole of government” approach to regulate the broader cryptocurrency market. Per the executive order’s timeline, a report is expected to be released in August detailing climate impact and other governing concerns.The Biden administration is crafting policy recommendations aimed at....
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The PoW mining sector is of interest to the Biden administration. The White House is getting ready to publish a report on blockchain mining, according to Costa Samaras, the Office of Science and Technology Policy’s (OSTP) principal assistant director for energy. Samaras noted: “It’s important if this is going to be part of our financial […]
According to a new report, U.S. president Joe Biden and his administration are focused on proof-of-work (PoW) mining. The principal assistant director for energy for the White House Office of Science and Technology Policy (OSTP) discussed the research report on July 2, 2022. The OSTP official, Costa Samaras, said if digital currencies plan to stick around then it is important that these financial systems are “developed responsibly and minimizes total emissions.”
White House Eyes Bitcoin Mining and the Industry’s Emissions
A new report will be published by....
The White House Office of Science and Technology Policy reaches mixed conclusions about crypto and the climate, against a background of rapid technological change. The White House Office of Science and Technology Policy (OSTP) has weighed in on the environmental and energy impact of crypto assets in the United States, finding that crypto makes a significant contribution to energy usage and greenhouse gas (GHG) emissions. It recommends monitoring and regulation in response.The report, released Sept. 8, was the latest to come out of the U.S. President Joe Biden’s March executive order (EO)....
Jared Huffman, a United States lawmaker who advocates for increased scrutiny of crypto-mining entities, has reportedly chastised U.S. energy agencies that he accuses of failing to act on the White House’s call on them to do “reliability assessments of current and projected crypto-asset mining operations on electricity system reliability and adequacy.” However, a commissioner at the Federal Energy Regulatory Commission, Allison Clements, insists crypto mining should not be singled out from grid studies. Agencies Reviewing White House Recommendations Jared Huffman, a....
Princeton University professor of computer science and public affairs Ed Felten has joined the White House Office of Science and Technology where he will advise President Barack Obama on policy decisions related to technology and innovation. The appointment is notable for the digital currency industry given Felten's longstanding interest in bitcoin and the digital currency's public ledger, the blockchain. In addition to writing on the subject, Felten also attended the New York BitLicense hearings held in January 2014 where he presented a moderate view of the technology that stood in....