Report outlines concerning effects of crypto assets — ‘immediate transparency’ is needed
In the time since a 2022 report by the White House warned of cryptocurrency’s energy costs and negative impacts on the climate and environment, the industry has grown significantly.
What’s happening?
In March of that year, President Joe Biden issued an executive order to ensure the responsible development of digital assets, as Investopedia reported. The response six months later from the White House Office of Science and Technology Policy indicated changes must be made to avoid the production of heat-trapping pollution, prevent electricity costs from rising, and stabilize power grids.
The OSTP said the United States could have trouble meeting its climate action goals if the crypto industry doesn’t reduce its use of
