The Office of Science and Technology Policy (OSTP), the US presidential administration, has begun research into energy offset and climate change offset opportunities associated with digital assets.
On March 9, US President Joe Biden signed an executive order directing various federal agencies to study the impact of digital assets in six key areas: consumer and investor protection, financial stability, financial inclusion, responsible innovation, and the United States’ global financial leadership. and combating illicit financial activities.
As part of the initiative, OSTP invited the general public and other stakeholders to share their views on the various factors that affect the energy consumption and climate impact of all types of digital assets and cryptocurrencies.
.@POTUS has made it clear that digital assets and cryptocurrencies must support our climate goals. @WHOSTP posted a Request for Information today, seeking YOUR comments on the impact of digital assets on energy and climate. Be sure to reply by 5:00 pm ET on May 9th. https://t.co/oRLqYHPG9l — White House Office of Science and Technology (@WHOSTP), March 25, 2022
President Biden’s executive order requires the OSTP to submit a digital asset report to identify factors that negatively or positively affect energy and climate issues. According to the official notice:
“In particular, this Right to Information (RFI) requires commentary on the protocols, equipment, resources, economics and other factors that determine the energy use and climate impact of all types of digital assets.”
In addition, OSTP is exploring public opinion about the potential benefits of digital assets in addressing growing energy and climate challenges. According to the notice, the federal government will use the results of the study to determine future developments or industry trajectories related to digital assets.
The public and organizations are invited to submit comments no later than 5:00 pm ET on May 9, 2022.
Related: Secretary of State Yellen admits ‘benefits of cryptocurrency’ despite lingering skepticism
US Treasury Secretary Janet Yellen, who has historically shared anti-crypto sentiment, recently acknowledged the “significant role” that cryptocurrencies play:
“Cryptocurrency brings benefits, and we understand that innovation in the payment system can be beneficial.”
I see great strength in the American economy. We have an extremely strong labor market, historically low unemployment, and consumer spending continues to be high. I joined @SquawkCNBC this morning to discuss.pic.twitter.com/NKM1H8fDQC — Secretary Janet Yellen (@SecYellen) March 25, 2022