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U.S. lawmakers will investigate the environmental impact of cryptocurrency mining

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Over the past year, the cryptocurrency mining sector has attracted the attention of authorities in several countries, and the United States government appears to be beginning to take an interest in the sector.

Hearing about the environmental impact of cryptocurrency mining

Recently, the lower house of the US Congress scheduled a hearing to examine the impact of energy consumption associated with cryptocurrency mining. The subcommittee on oversight and research of the Energy and Trade Committee, according to the House of Representatives, will hold a public hearing on Thursday, January 20.

The theme of the hearing is called “Cryptocurrency: The Energy Consequence of Blockchains.” The subcommittee is interested in studying the energy consumption of blockchains in terms of possible environmental problems in the future. It is worth noting that there will be a hearing on the set day as well broadcast live on YouTube.

The organization is now concerned about the influx of miners into the United States as a result of a mining ban in China in May 2021, which led to miners migrating to North America, Kazakhstan and Russia.

In response to the rapid development of the mining sector in the United States, was created the so-called BTC Mining Council, which has well-known names like Michael Saуlor and Elon Musk.

Given that some of these companies are already listed on the New York Stock Exchange, it is unlikely that the United States will stop their activities, as was the case in China. However, the outcome of the hearing does not preclude the introduction of restrictive measures against crypto mining in the United States.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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