White House prepares policy to fight Bitcoin mining environmental impact
The United States government plans to unveil the first-ever policy targeting Bitcoin mining to address factors like the sector’s energy regulation and climatic impact. The policy proposal is expected to be out by August and will review some of the industry’s criticism, including claims of lacking a societal benefit, Bloomberg Law reported on June 2.
Notably, the development comes after President Joe Biden signed an executive order in March calling on federal government agencies to promote the responsible development of digital assets.White House involvement in Bitcoin mining aims to conduct a clean up of the space amid concerns the activity is a threat to efforts to combat climate change. In coming up with the recommendations, the White House will also review factors like the mining noise pollution alongside comparing protocols like proof-of-stake (PoS) and proof-of-work (PoW)
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