Climate change has come after the US Office of Science and Technology Policy, concerned about giving back, released a report saying politicians should take action against cryptocurrency mining. A federal entity recommends that the Biden administration encourage more research into mining’s electricity consumption and codify public policy across the mining industry.
Science and Technology Policy Department report claims that something needs to be done to stop the pollution of crypto mining
According to the U.S. Office of Science and Technology Policy (OSTP), bitcoin mining is contributing to climate change. curbing government efforts to combat According to a report published by Bloomberg, OSTP documents claim that crypto mining operations, especially blockchains leveraging Proof of Work (PoW), cause air, noise, and water pollution.
The OSTP report declared that cryptocurrency mining could “raise environmental justice issues for underserved communities.” US President Joe Biden ordered the OSTP and several other agencies to report on the impact of crypto mining production last March.
His OSTP report, released Thursday, is one of the first studies he has taken to Mr. Biden’s desk after he issued an executive order six months before him. It’s one. The OSTP recommends that the U.S. government immediately develop public policy to stop the pollution allegedly associated with PoW mining.
The US government’s science and technology department believes the federal government needs to work with state-level leaders to develop public policies to curb so-called mining pollution.
“Depending on the energy intensity of the technology used, crypto-assets could impede US climate commitments and broader efforts to achieve net zero carbon pollution in line with our goals. “There is potential,” the OSTP explained in its report.
The White House Department of Science and Technology says that if the federal government is unable to enlist states, administrative action will be required.
Latest OSTP This report leverages many studies and data points from previously published research papers. The science and technology department claims that the cryptocurrency mining business in the US is close to the energy harnessed by every US citizen using a personal computer today.
Furthermore, they claim that mining will use about the same amount of energy as US diesel-fueled railroads. The OSTP and Biden administration are busy fighting climate change and adhering to the Paris Agreement.
A memorandum derived from the Paris Agreement promises to reduce global emissions by 50% by 2030. ordinance should be used.
“If these measures prove ineffective in mitigating impacts, the Administration may consider executive branch action and Congress may consider legislation,” the OSTP said. The report concludes.
What are your thoughts on the OSTP’s claims about bitcoin mining? Do you think the Biden administration will respond to this report with regulation and public policy? Please let us know what you think about the matter.
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