The Office of Science and Technology Policy (OSTP), a Executive Office of President of the United States of America, began a study to determine the potential for reducing energy consumption and climate change related to digital assets.
The United States President Joe Biden signed a directive on March 9 directing federal agencies to investigate the implications of digital assets in six key areas: consumer and investor protection; financial stability; financial inclusion; responsible innovation; global financial leadership by the United States and fighting illicit financial activity.
The OSTP invited stakeholders and the general public to voice their opinions on the various factors that influence the use of energy and climate impact of all digital assets and cryptocurrencies.
. @POTUS stated that digital assets and crypto currencies must be in support of our climate goals. @WHOSTP has issued a Request for Information today to get your input on the climate and energy implications of digital assets. Be sure to respond by 5pm ET on May 9. https://t.co/oRLqYHPG9l
White House Office of Science & Technology Policy, March 25, 2022
President Biden ordered that OSTP submit a report about digital assets in order to identify factors that positively or negatively affect energy and climate. According to the official notice
“In particular, this Right for Information (“RFI”) seeks comments on protocols, hardware and economics that influence the energy use and climate impact of all digital assets.
OSTP also seeks public opinion about the potential benefits of using digital assets to address rising energy and climate issues. The notice states that the Federal Government will use the results of the study as a guideline for future industry developments and trajectories in relation to digital assets.
Comments are welcome from the general public as well as organizations. ET on May 9, 2022.
Related: Secretary Yellen acknowledges the ‘benefits crypto’ despite lingering skepticism
Janet Yellen, the U.S. Secretary for the Treasury, has long shared anti-crypto sentiments. She recently acknowledged the “significant part” that cryptocurrencies play in her life.
“There are many benefits to crypto and we recognize that innovation in the payments system could be a good thing. I see great strength in the American economy. The US has a strong job market and historically low unemployment. Consumer spending is also strong. To discuss, I joined @SquawkCNBC this AM. pic.twitter.com/NKM1H8fDQC
— Secretary Janet Yellen (@SecYellen), March 25, 2022