Recently, the White House released a report that details how crypto mining and other technologies contribute directly to pollution, greenhouse gas effect, noise, and other hazardous environmental effects that get in the way of federal agency’s initiatives to attain a net-zero carbon emission that is in adherence to U.S. climate goals.
Last month, electricity usage was seen to have quadrupled or amounting to 180kph to 240kph annually. Meanwhile, BTC mining in the United States has also climbed from 3.5% as seen in 2020 to a whopping 38% today.
The said report of the White House Office of Science and Technology was made specifically in response to the executive order of United States President Joe Biden that questions and challenges the impact and direct relationship of crypto assets and technologies to issues surrounding climate change and energy in the U.S.
Image: KITCOWhite House Wants Coordinated Efforts On Crypto Mining
The report outlined how the Biden administration and Congress can work together in enacting executive orders and legislation to ensure the efficient and safe use of high energy for crypto mining.
More so, crypto mining companies together with Environmental Protection Agency (EPA), Department of Energy (DOE), and other environmental protection agencies should work collaboratively in designing processes and technologies that minimize unwanted pollution and other dangerous environmental and economic effects brought about by crypto mining.
Additional recommendations were also highlighted in the White House report, such as getting the personal information of the electric utilities and crypto miners, as well as ensuring the use of renewable and reliable energy source that will help the federal authorities to come up with a well-informed decision regarding the climactic impact of cryptocurrencies.
White House: Make Crypto Greener, Or Else…
Despite the support of crypto communities promoting bitcoin mining as safe for the environment, White House officials aren’t convinced as over 100 million storage devices will be plugged to the grid come 2040 which could be a nuisance for a country that is in the process of shifting towards the use of 100% renewable energy.
With that being said, the EPA has been tasked to enhance the energy grid that will cement the clamor for a cleaner energy use in the future that will safeguard the country from harsh climate change and pollution.
The White House stands firm to make crypto greener or more climate-friendly — or else it will ban it altogether.
BTC total market cap at $402 billion on the daily chart | Source: TradingView.com
Featured image from BBC, chart from TradingView.comChinese official media, based on court decisions, indicates that cryptocurrency transactions are legally invalid, and losses are borne by the individual.
MiyukiMichael Saylor predicts SEC will label Ethereum as a security, impacting ETF applications and other major cryptocurrencies’ classification and market acceptance.
WeiliangRyan Salame, ex-co-CEO of FTX, agrees to forfeit a $5.9 million Bahamas property to settle criminal charges, as part of a plea deal.
AlexAlan Scott reveals U.S. senators and the FBI show unexpected support for privacy in crypto, debunking myths of a privacy crackdown.
MiyukiThe blockchain analytics firm will furnish Tether with tools designed to detect both sanctioned and illicit activities within the cryptocurrency space.
CatherinePantera Capital's investment in TON, fueled by Telegram's vast user base, signals optimism for TON's role in mainstream crypto adoption. Challenges remain, but with Pantera's backing, TON aims to become a widely embraced blockchain network in the near future.
JoyIn Singapore, a poker game among crypto enthusiasts turned into a heist with robbers, knowledgeable about cryptocurrency, stealing over 4.34 million SGD, hinting at an inside job.
WeiliangDropbox has issued a report regarding a data breach concerning its Dropbox Sign e-signature service.
KikyoA cybercriminal behind the embezzlement of $7.4 million from Hundred Finance reappears, moving approximately $800,000 worth of assets to launder or utilise the stolen funds. Despite a recent decline in crypto scams and hacking incidents, challenges persist in securing cryptocurrency platforms and preventing financial crime.
WeatherlyIsrael retaliates against Hamas causing 16 deaths; US exchange Coinbase faces lawsuit over defrauding investors. Gold spikes to $2315, and Bitcoin encounters strong resistance at $64,000.
Alex