Energy team drafting report on energy consumption
Emissions, grid strain, noise all part of study’s scope
Financial Technology Developments Tracker (Bloomberg Law subscription required)
The Biden administration is teeing up policy recommendations to lower cryptocurrency mining’s energy consumption and emissions footprint, marking its first major foray into a poorly understood industry that critics say threatens U.S. climate goals and strains the power grid.
“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,” Costa Samaras, principal assistant director for energy for the White House Office of Science and Technology Policy, told Bloomberg Law.
“When we think about digital assets, it has to be a climate and energy conversation,” Samaras said.
The report, expected in August, could be one of the first studies following President Joe Biden’s executive order in March pressing federal...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...