Report Reveals Game-Changing White House Crypto Plans That Could Have A Serious Bitcoin And Ethereum Price Impact

Moth Ball Biden

The Biden administration is working on a set of policy recommendations targetting bitcoin and crypto’s sky-high energy consumption and carbon footprint, according to a report.

The bitcoin network’s blistering energy consumption is the subject of increasingly intense scrutiny from environmental activists and regulators around the world. In March, European Union documents revealed the extent of anti-bitcoin sentiment among officials—and their desire to push bitcoin toward a less energy-intensive mining model, such as the one ethereum is moving towards.

Now, as the price of bitcoin, ethereum and other cryptocurrencies brace for an economic “hurricane,” one White House official has said “climate and energy” need to be considered when developing digital assets such as bitcoin and ethereum.

Content retrieved from: https://www.forbes.com/sites/billybambrough/2022/06/02/report-reveals-game-changing-white-house-crypto-plans-that-could-have-a-serious-bitcoin-and-ethereum-price-impact/?sh=60952cd2dfe3.