The White House says reducing Bitcoin’s environmental impact is vital.
Bloomberg Law reports that the Biden administration is working on policy recommendations on crypto mining.
Joining the White House last November as deputy director of energy and OSTP chief adviser for energy policy, CMU professor Dr. Costa Samaras emphasized that minimizing overall emissions is vital if Bitcoin is to become a meaningful part of the financial system.
Management’s approach to the matter is currently unclear, and it is unclear whether any actual policy will be enacted.
In January, Senators Elizabeth Warren, Maggie Hassan, Jeff Merkley, Edward J. Markey, Sheldon Whitehouse, and several Democrats of the House of Representatives expressed their concerns to various mining companies about the high energy use of Bitcoin.
Warren has repeatedly stressed that Bitcoin’s carbon footprint can undermine environmental goals. The asset currently consumes more electricity than countries like Argentina.
Cardano CEO Charles Hoskinson stated that ADA is an environmentally friendly alternative.
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