The crypto-climate implications are under a study to determine the scope for balancing energy usage and climate change associated to digital assets by the President’s Agency of Science and Technology Policy (OSTP), an administrative office of the United States.
On March 9, US President Joe Biden signed an executive order directing various federal agencies to investigate the implications of digital assets in six key areas: consumer and investor protection, financial stability, financial inclusion, responsible innovation, the US’ global financial leadership, and combating illicit financial activity.
As part of the initiative, the OSTP requested the general public and other stakeholders to provide their thoughts on a variety of factors that contribute to the energy use and climatic consequences of all types of digital assets and cryptocurrencies.
.@POTUS made clear that digital assets and cryptocurrencies must support our climate goals.
— White House Office of Science & Technology Policy (@WHOSTP) March 25, 2022
According to President Biden’s executive order, the OSTP must produce a study on digital assets to identify elements that have a detrimental or beneficial impact on energy and climate problems. The official notification states:
“In particular, this Right for Information (RFI) seeks comments on the protocols, hardware, resources, economics, and other factors that shape the energy use and climate impacts of all types of digital assets.”
Furthermore, OSTP welcomes public feedback on the potential advantages of digital assets in tackling increasing energy and climate challenges – the so called crypto-climate issues. According to the notification, the results of the research will be used by the federal government to direct future advancements or industrial trajectories involving digital assets.
The general public and organisations are asked to make views on or by May 9, 2022, at 5:00 p.m. ET.