Attack on Proof-of-Work Continues; U.S. Lawmakers Push For Tighter Oversight of Crypto Mining
U.S. Representative Jared Huffman (D-CA) and 22 other Congress members have sent a joint letter to Environmental Protection Agency (EPA) Administrator Michael Regan concerning the operations of cryptocurrency mining.
In the letter, the group is calling for “increased oversight of cryptocurrency’s environmental impacts” and states:
“We have serious concerns regarding reports that cryptocurrency facilities across the country are polluting communities and are having an outsized contribution to greenhouse gas emissions.”
The lawmakers hold the (mistaken) belief that Proof-of-Work (PoW) mining, such as Bitcoin mining, is contributing to “significant greenhouse gas emissions” and therefore “results in major electronic waste challenges due to the highly specialized and short-lived computing hardware needed to secure the network.”
The group of politicians go as far as saying:
“The industry needs to be held accountable for this waste and discouraged from creating it.”
An alternative, the Congress members point out, are “less energy-intensive cryptocurrency mining technologies, such as ‘Proof-of-Stake’ (PoS).”
They conclude:
“We request that the EPA evaluate ‘Proof-of-Work’ mining facilities’ compliance with environmental statutes, such as the Clean Air Act and the Clean Water Act, and engage with the communities when reviewing permits.”
Anthony Pompliano in an interview with CNBC’s Joe Kernen last year explained that “people just do not (want) to ‘get it’.” They are missing “key points” in the “climate argument” against the Bitcoin network, he said.
The discussion on Bitcoin’s carbon footprint is not something new and often comes up when those opposing the cryptocurrency are trying to score a win. Claims that Bitcoin would be bad for our environment have been debunked numerous times while Bitcoin miners are pledging to operate “carbon neutral”.
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Source: igaming
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