White House To Craft Bitcoin Mining Policy Addressing Energy Use: Report

White House To Craft Bitcoin Mining Policy Addressing Energy Use: Report
фото показано с : bitcoinmagazine.com

2022-6-3 16:46

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 lessening the energy consumption and emissions footprint of Bitcoin and other proof-of-work (PoW) cryptocurrencies, according to a report from Bloomberg Law.

The publication said it spoke to the principal assistant director for energy for the White House Office of Science and Technology Policy, Costa Samaras, who offered some insight into the impending policy attempts.

“It’s important, if this is going to be part of our financial system in any meaningful way, that it’s developed responsibly and minimizes total emissions,” Samaras reportedly said. “When we think about digital assets, it has to be a climate and energy conversation.”

Regulators were tapped by President Biden’s administration earlier this year in a “whole of government” approach to understanding and regulating the broader cryptocurrency space as Biden signed an executive order. The order set timeframes, most within a 120 to 180-day period, to publish reports in conjunction with other governing bodies intended to guide the administration through a largely misunderstood market.

According to the report, the Energy Department, which issues many of the efficiency standards likely being discussed, did not provide comment on the matter of PoW-based cryptocurrencies like Bitcoin. However, Samaras offered insight on the matter.

“We need to think about what would be the appropriate policy responses under a world that shifted to proof-of-stake, or a world that has some continuous mix of proof-of-work and proof-of-stake,” Samaras said. “Proof-of-work is energy-intensive by design, but it also increases security.”

A report geared towards uncovering emissions, noise pollution, energy efficiency for differing consensus mechanisms and the possible revival of fossil fuel intensive mining methods is expected to be released this August following the timeline of the aforementioned executive order.

“We’ve seen reports about noise, local pollution, older fossil generators being restarted in communities,” Samaras said. “These are not trivial loads.”

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Restart Energy MWAT (MWAT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0054454 (-100%)

energy mining bitcoin reportedly intended policies crafting

energy mining → Результатов: 126


Фото:

Dutch central bank tested blockchain for 3 years. The results? ‘Not that positive’

The Dutch central bank developed and evaluated four distributed ledger technology (DLT) prototypes in three years, but so far blockchain hasn’t lived up to the hype, The Banker reports. In fact, the only use-case it can easily envision is cross-border payments, after it discovered that markets with efficient payment systems that exist (such as Nordic countries and the Netherlands) don’t really benefit from blockchain.

2019-5-1 17:15


Canadian Province Offers Low-Cost Energy For Bitcoin Mining via Cold Climate, Hydroelectric Power

Bitcoin miners in Canadian provinces which include British Columbia, Quebec, Manitoba, Alberta, and Labrador are enjoying the perks of low-cost energy incentives. The Canadian province fits perfectly to the needs of running a Bitcoin mining operation due to its cool climate and abundance of hydroelectric energy availability. The perfect mining condition is aided by the […]

2019-4-17 19:25


New CoinMetrics Research: Energy Use Comparison with Crypto and Auto Industry is a Perspective Shifter

The environmental impact that cryptocurrency has had on the world has been researched through the years to a certain extent. Much of the attention has previously been on the toll that mining takes, though a researcher for CoinMetrics wanted to take a broader approach, finding out how the impact of the auto industry on the […]

2019-4-16 02:22


Dago Mining ICO

Green energy for bitcoins, ethereum, and other cryptomonetes mining. Dago Mining has one initial cost and zero cost on consumption. The cost of the energy component gives profitability to mining. We create our own green renewable energy power plant and we will not have any future energy cost increase.

2019-4-15 06:03


Фото:

Андреас Антонопулос рассказал, почему майнинг bitcoin всегда будет прибыльным

Известный предприниматель, криптофилософ и автор популярной книги «Освоение bitcoin: Программирование на блокчейне» Андреас Антонопулос считает, что изменения цены bitcoin не способны негативным образом отразиться на прибыльности майнинга.

2019-4-10 14:13


Фото:

Андреас Антонопулос: майнинг bitcoin всегда будет прибыльным

Известный предприниматель, криптофилософ и автор популярной книги «Освоение bitcoin: Программирование на блокчейне» Андреас Антонопулос считает, что изменения цены bitcoin не способны негативным образом отразиться на прибыльности майнинга.

2019-4-10 14:13


Фото:

MivHash a renewable energy cloud mining service is becoming the strongest contender in the cloud mining industry

The Massive Progress Of Mivhash Mivhash has started with a concept of renewable energy for cloud mining and for this purpose they use renewable energy that is low in cost. This is the reason why you can invest your Cryptocurrency with Mivhash without having to worry about the high prices for buying hardware that eventually […] The post MivHash a renewable energy cloud mining service is becoming the strongest contender in the cloud mining industry appeared first on ZyCrypto.

2019-3-29 16:42