After the U.S. Office of Science and Technology Policy published an advisory that recommended that politicians take action against crypto-mining, the Biden administration is concerned about how digital currency mining could affect climate change. Federal government entity suggests that the Biden administration encourage more research on mining's electricity consumption, and codify the public policy for the whole mining industry.
Office of Science and Technology Policy Report Claims That Something Must Be Done To Stop Crypto Mining Pollution
According to the U.S. Office of Science and Technology Policy, bitcoin mining could hinder the government's efforts against climate change. According to a Bloomberg report, crypto mining operations, especially those that use proof-of work (PoW), can cause noise and air pollution.
According to the OSTP, cryptocurrency mining could raise environmental justice issues in underserved communities. Last March, Joe Biden, the U.S. President, ordered that the OSTP and other agencies report on the impact of crypto mining production.
Biden received the OSTP report on Thursday, six months after he issued the executive order. The OSTP recommends the U.S. government create a public policy to immediately stop the pollution allegedly linked with PoW mining.
The United States government's science and technology department believes that the federal government must work with state leaders to create public policies that reduce the mining pollution.
According to the report, "Depending on how energy intensive the technology is used, crypto assets could hamper broader efforts towards achieving net-zero carbon polluting in line with US climate goals and commitments," the OSTP stated.
White House Science and Tech Department says that if the Federal Government can't get states to cooperate, then executive actions are necessary
The OSTP's latest report draws on a variety of data points and studies from previous research papers. According to science and technology, crypto mining operations in the United States account for nearly all of the energy used by U.S. citizens who use personal computers today.
The OSTP claims that mining consumes roughly the same amount as America's diesel-powered railroads. Both the OSTP administration and Biden are under pressure to combat climate change and adhere to the Paris Agreement.
The Paris Agreement's memorandum of understanding promises to cut the world's carbon emissions by half by 2030. In its report, the OSTP explains that if the federal government is unable to work with state leaders at local levels, then the Biden administration should leverage laws or executive orders that prohibit the so-called pollution tethered PoW mining.
The OSTP report states that "should these measures prove ineffective in reducing impacts", the administration should consider executive actions and Congress might consider legislation.
What are your thoughts on the claims of the OSTP about bitcoin mining? Is it likely that the Biden administration will respond to this report by enacting regulation and public policies? Comment below to let us know your thoughts on this topic.
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By: Jamie Redman
Title: Bitcoin Mining Threatens America’s Climate Change Efforts, White House Science and Tech Department Says
Sourced From: news.bitcoin.com/bitcoin-mining-threatens-americas-climate-change-efforts-white-house-science-and-tech-department-says/
Published Date: Thu, 08 Sep 2022 19:30:09 +0000
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