Witnesses address energy impacts of crypto mining during House hearing
“If policymakers take a cautious approach and foster a pro-innovation environment, the rewards for consumers, investors and all Americans are likely to be great," said Jordan Ramis shareholder Gregory Zerzan. Five industry experts appearing before the United States House Energy and Commerce Oversight Subcommittee had different views on how lawmakers should address the energy consumption of cryptocurrencies.In written testimony released before a Thursday hearing on “Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains,” former Comptroller of the Currency Brian Brooks argued that....
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Crypto allies dominate the list of witnesses slated to appear before the House Committee on Energy and Commerce. As U.S. Congress is preparing to take a thorough look at the energy use of crypto mining, the list of witnesses for the Thursday hearing contains more proponents of blockchain technology than its outright critics.The House Energy and Commerce Oversight Subcommittee announced a hearing on “Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains” last week, with the event itself scheduled for Jan. 20. The focus of the hearing will be on the energy and environmental effects....
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....
The US government raised concerns over the environmental impacts of crypto technology in a recent hearing, and how ethical blockchain plays a role in the equation. The main issue mentioned by the Energy and Commerce house committee was the increasing trajectory of energy consumption as a result of the dramatic demand in blockchains. This comes […]
A lack of knowledge on proof of work prevailed by most Representatives as they questioned the energy use of bitcoin mining.
Four members of the U.S. House Committee on Energy and Commerce said they were "deeply concerned" that Proof-of-Work mining could increase demand for fossil fuels. Four members of the United States House of Representatives from the Energy and Commerce Committee have demanded answers from four major crypto mining firms in regards to the potential effects of their energy consumption on the environment.In letters dated Wednesday to Core Scientific, Marathon Digital Holdings, Riot Blockchain, and Stronghold Digital Mining, U.S. lawmakers Frank Pallone, Bobby Rush, Diana DeGette, and Paul Tonko....