The Office of Science and Technology Policy (OSTP), an executive office of the United States President, has begun a study to determine the scope for offsetting energy use and climate change related to digital assets.
On March 9, US President Joe Biden signed an executive order Directing various federal agencies to investigate the impact of digital assets on six key areas – consumer and investor protection, financial stability, financial inclusion, responsible innovation, global financial leadership of the United States and combating illicit financial activities.
As part of the initiative, the OSTP invited the general public and other stakeholders to share their viewpoints on various factors contributing to the energy consumption and climate impact of all types of digital assets and cryptocurrencies.
.@POTUS made it clear that digital assets and cryptocurrencies must support our climate goals.
— White House Office of Science and Technology Policy (@WHOSTP) March 25, 2022
President Biden’s executive order requires OSTP to produce a report on digital assets to identify factors negatively or positively impacting energy and climate concerns. According to the official announcement:
“Specifically, this Right to Information (RFI) seeks comment on protocols, hardware, resources, economics, and other factors affecting the energy consumption and climate impact of all types of digital assets.”
In addition, OSTP seeks public opinion on the potential benefits of digital assets in addressing rising energy and climate concerns. According to the notice, the federal government will use the results of the study to dictate future developments or industry paths related to digital assets.
The general public and organizations are invited to submit comments by May 9, 2022 at 5:00 p.m. ET.
US Treasury Secretary Janet Yellen, who has historically shared anti-crypto sentiments, recently acknowledged the “significant role” of cryptocurrencies:
“Crypto has advantages and we recognize that innovation in the payments system can be a healthy thing.”
I see a lot of strength in the American economy. We have an immensely strong labor market, historically low unemployment and continued strong consumer spending. i have joined @SquawkCNBC to discuss this morning. pic.twitter.com/NKM1H8fDQC
— Secretary Janet Yellen (@SecYellen) March 25, 2022
https://cointelegraph.com/news/white-house-office-seeks-public-opinion-on-crypto-climate-implications The White House Office is catching up with public opinion on the impact of the crypto climate