Environment Focused Groups Call on the Biden Administration to Implement New Approaches Against Crypto Miners

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Eight environment-focused organizations purportedly got together to notify the Biden Administration about the concerning environmental issues brought by the increasing number of crypto mining operations within the country. According to the group, the US government should begin implementing new approaches in response to crypto miners and the Proof-of-Work consensus.

The group, which is comprised of Earthjustice, the League of Conservation Voters, Friends of the Earth, the Milwaukee Riverkeeper, the Environmental Working Group, Greenpeace, the Sierra Club, and the Seneca Lake Guardian, urged the White House to implement policies that would rectify the overuse of electricity in such mining operations that leads to further climate pollution.

Specifically, the group believes that the US crypto mining scene is now harming communities by sparking an increased demand for electricity from fossil fuels, creating significant amounts of electronic waste, and its downright refusal to transition to renewable electricity.

On top of all this, the group also requested the Office of Management and Budget’s Office of Information and Regulatory Affairs to establish a registry for the now-many PoW mining operations to encourage such firms to unveil their energy sources and quantities accurately. Other recommendations include implementing energy efficiency standards via the Department of Energy, with the limit set to get tighter over time to eradicate PoW crypto mining eventually.

As stringent as those proposals may be, what seems to be the group’s biggest ask is from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) itself. The group reportedly requested the two top regulators to limit crypto exchanges to listing digital assets that meet a particular environmental and electricity standard while also pushing back on misleading claims regarding digital currencies’ environmental impacts.

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