The issue of cryptocurrencies and their energy consumption is a hotly debated topic in the United States. Inflation is still rampant, crypto price declines continue and environmental concerns are growing. Faced with all this, Jared Huffman wonders why federal energy agencies are slow to follow the White House’s recommendations on crypto mining.
Federal agencies are carefully reviewing the White House’s recommendations
The reluctance of US federal agencies to respond to the White House’s recommendations worries Jared Huffman. A member of the United States House of Representatives, the latter is concerned about the reluctance of some of these agencies regarding the crypto mining report.
In fact, Huffman believes the federal agencies’ silence means the damage done by crypto mining is getting worse. A Bloomberg Law report provides more details. According to the latter, US energy and environmental officials have yet to say anything about the White House’s demands.
Of course, they haven’t announced any plans to conduct energy consumption studies yet. Or to pursue possible performance standards. Costa Samaras, senior deputy director for energy at the Office of Science and Technology Policy, acknowledged that the agencies have not yet released a response.
Each agency is reviewing the recommendations and will release its commitments according to its own process and schedule, he said.
Crypto mining should not be isolated from grid research
The White House report calls on agencies responsible for collecting energy information to consider collecting and analyzing information from miners. But also those of public services while maintaining confidentiality.
This data will thus enable evidence-based decision-making on the energy and climate impacts of cryptocurrencies. However, the Federal Energy Regulatory Commission (FERC) and the North American Electric Reliability Commission (NAERC) insist they already have safeguards in place in the event of grid shortages. As such, they do not plan to do a reliability assessment specifically for digital assets.
While Jared Huffman doesn’t seem impressed with the excuses of Alison Clements Agencies, sees things differently. In fact, the latter argues that crypto mining should not be isolated from grid research.
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The world is changing and adaptation is the best weapon for survival in this turbulent universe. As a crypto community manager at heart, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and make known a field that fascinates me, nothing better than writing informative and relaxed articles at the same time.