White House Calls for Public Dialogue on Crypto’s Impacts on Energy and Climate

Earlier this month, President Joe Biden signed an executive order (EO) urging various federal agencies to explore the implications of digital assets in six key areas, namely: consumer and investor protection, financial stability, financial inclusion, responsible innovation, the United States’ global financial leadership, and combating illicit financial activity.

Following this, the White House’s Office of Science and Technology Policy (OSTP) has initiated a study centered on offsetting energy use and climate changes related to digital assets. Supporting this initiative, the Executive Office has also invited key stakeholders to start a public dialogue regarding various factors that contribute to the energy use and climate impacts of cryptocurrencies.

“@POTUS made clear that digital assets and cryptocurrencies must support our climate goals. Today, @WHOSTP issued a Request for Information seeking YOUR input on the energy & climate implications of digital assets. Be sure to respond by 5 pm ET on May 9,” tweeted the OSTP’s official account on March 25.

The OSTP is required to submit a report that identifies factors of digital assets that affect the aforementioned issues either positively or negatively, under President Biden’s EO. “In particular, this Right for Information (RFI) seeks comments on the protocols, hardware, resources, economics, and other factors that shape the energy use and climate impacts of all types of digital assets,” stated the official notice.

The findings that will come from the study will be used by the government to guide future developments or industry trajectories of digital assets in the U.S. Janet Yellen, U.S. Secretary of the Treasury, has likewise recognized the “significant role” of cryptocurrencies despite her anti-crypto sentiments in the past. “There are benefits from crypto, and we recognize that innovations in the payments system can be a healthy thing,” explained Yellen.

Source: CoinTelegraph