Lawmakers explore Bitcoin mining efficiency, broader crypto policy issues dur...
While we are unlikely to see immediate policy effects of the exchange, legislators got educated on a wide array of blockchain-related concepts and issues. On Jan. 20, the Oversight and Investigations subcommittee of the U.S. Congress House Energy and Commerce Committee convened a hearing to investigate the environmental effects of cryptocurrency mining. Despite the narrow focus, the conversation that ensued – which many industry experts appraised as a meaningful educational experience for the lawmakers – touched upon a range of blockchain-related issues and themes beyond energy....
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While supporting crypto mining companies, the Russian lawmakers are still not sure whether they should ban individuals from mining crypto. As Russia continues to work on new regulations for the cryptocurrency industry, the Russian Ministry of Finance has expressed fresh support for Bitcoin (BTC) mining.Russia should encourage the development of industrial-level cryptocurrency mining in the country, the Ministry’s director of the financial policy department Alexey Yakovlev urged.There’s also no point in banning retail or household Bitcoin mining, Yakovlev said, as the local publication....
A recent meetup on the Capitol Hill highlighted several key debates that will define the mining industry’s development in the years to come. On Jan. 27, a group of eight U.S. lawmakers, led by Senator Elizabeth Warren, sent letters to the world’s six largest Bitcoin mining companies, demanding to reveal the detailed data on their electricity consumption. This isn’t the first time Senator Warren requested this information from a mining operation — last month a similar letter was sent to Greenidge Generation, which uses a natural gas plant to power its facility.These moves highlight the....
Kevin O’Leary, aka Mr. Wonderful, has revealed that a group of U.S. lawmakers is working on a policy to open crypto markets to institutional investors. “The good news is they are all over it and agree there is tremendous opportunity once they pass policy,” said O’Leary. U.S. Senators Working on Crypto Regulation for Institutional Investors Shark Tank star Kevin O’Leary revealed in a series of tweets Thursday that he just had a bipartisan meeting with a group of U.S. lawmakers to discuss crypto regulation. He tweeted: Spent my day at the senate with a....
Genesis Mining has launched a new web interface that will enable digital currency miners to gain greater control of their bitcoin and altcoin mining operations. Initially built for internal use, Genesis Hive is currently being offered to large-scale miners at a rate that varies based on the number of mining units connected to the service each month. The new software is also expected to be made available to medium and small-sized firms at a later, to-be-determined date. CEO and co-founder Marco Streng indicated that the project aims to reduce the rising complexities associated with....
The Bitcoin Mining Council (BMC) published the results of their Q2, 2022, a survey on the state of the sector, its electricity consumption, and technological efficiency. The nonprofit organization claims it has collected data from 50% of the BTC network which represents over 107 exahash of the total hashrate. Related Reading | Bitcoin Hashrate Downtrend Leads […]