14 US Legislators Send Letters To EPA To Convince About Proof-of-Work
The US Congress has sent out another letter to the Environmental Protection Agency (EPA) with more educational materials on Proof-of-Work.
The letter was co-signed by 14 pro-crypto congressmen including celebrities who frequently appear before the crypto community such as Cynthia Lummis, Patrick McHenry, and Tom Emmer. Cynthia Lummis is one of two Senators behind the landmark draft crypto regulation bill published earlier this month.
Accordingly, the lawmakers called for the EPA to comprehensively analyze the environmental impact of crypto assets. They claim that a significant portion of the resources used for Bitcoin mining is extracted from renewable energy sources. Indeed, according to Bitcoin Mining Council estimates, around 58% of the global mining industry is now powered by sustainable energy.
Although compared with estimates from New York, which is about to enact a ban on carbon-based PoW mining, the index is as high as 80%. Despite his past protest against Bitcoin mining, New York City Mayor, Eric Adams still wants the ban to be vetoed by Governor Hochul.
Eric Adams’ reasons are the same as those that Congress called for the EPA to consider further. He wishes not to put barriers to the development of an industry with new potential and wealth in the future.
“At a time of rapid technological innovation, we must affirm our commitment to responsible innovation to ensure future generations of Americans continue to enjoy prosperity and opportunity.”
In fact, the above view of legislators is completely valid, because Texas Governor Greg Abbott is also pursuing such a strategy. To support his area’s weak energy grid, he is inviting more miners to the state to encourage the development of power generation facilities.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
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14 US Legislators Send Letters To EPA To Convince About Proof-of-Work
The US Congress has sent out another letter to the Environmental Protection Agency (EPA) with more educational materials on Proof-of-Work.
The letter was co-signed by 14 pro-crypto congressmen including celebrities who frequently appear before the crypto community such as Cynthia Lummis, Patrick McHenry, and Tom Emmer. Cynthia Lummis is one of two Senators behind the landmark draft crypto regulation bill published earlier this month.
Accordingly, the lawmakers called for the EPA to comprehensively analyze the environmental impact of crypto assets. They claim that a significant portion of the resources used for Bitcoin mining is extracted from renewable energy sources. Indeed, according to Bitcoin Mining Council estimates, around 58% of the global mining industry is now powered by sustainable energy.
Although compared with estimates from New York, which is about to enact a ban on carbon-based PoW mining, the index is as high as 80%. Despite his past protest against Bitcoin mining, New York City Mayor, Eric Adams still wants the ban to be vetoed by Governor Hochul.
Eric Adams’ reasons are the same as those that Congress called for the EPA to consider further. He wishes not to put barriers to the development of an industry with new potential and wealth in the future.
“At a time of rapid technological innovation, we must affirm our commitment to responsible innovation to ensure future generations of Americans continue to enjoy prosperity and opportunity.”
In fact, the above view of legislators is completely valid, because Texas Governor Greg Abbott is also pursuing such a strategy. To support his area’s weak energy grid, he is inviting more miners to the state to encourage the development of power generation facilities.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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