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THE US authorities began to work on a report to study the environmental consequences of mass mining of cryptocurrencies
Joe Biden’s administration has begun work on recommendations to reduce energy consumption and emissions when mining cryptocurrencies. This is written by Bloomberg with reference to representatives of the White House.
It is reported that the report on the impact on the environment will be ready by August this year. However, it remains unclear whether regulatory action will follow the report. As part of the study, the authorities want to evaluate everything from local noise pollution to the energy efficiency of using various mining methods, comparing the bitcoin (BTC) and ether (ETH) protocols.
According to Costa Samaras, principal assistant director for energy at the White House Office of Science and Technology Policy, the purpose of the study is to enable the authorities to assess the implications of adopting the cryptocurrency market as part of the U.S. financial system.
As Samaras notes, the main question that the US authorities intend to clarify is whether it is worth introducing economic incentives for miners to turn off power during periods of high energy consumption by the population.
Recall that in 2021, researchers found that mining in New York increased monthly electricity bills by about $ 8 for households and $ 12 for small businesses. At the end of April this year, the state authorities called on the cryptocurrency business to track all user transactions, citing the risks of money laundering.
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