Crypto

Federal Energy Agencies’ Reluctance to Act on White House Cryptomining Recommendations Troubles US Lawmaker Cryptocurrency

Jared Huffman, a US lawmaker who advocates for greater scrutiny of crypto-mining entities, has reportedly chastised US energy agencies he accuses of failing to follow through on the White House’s call to do so. “reliability assessments of current and projected crypto assets”. mining operations on the reliability and adequacy of the electrical system. However, a commissioner for the Federal Energy Regulatory Commission, Allison Clements, insists that crypto mining should not be isolated from network studies.

Agencies reviewing White House recommendations

Jared Huffman, a member of the United States House of Representatives, has reportedly questioned the reluctance or reluctance of some US federal agencies to give their response to the recommendations contained in a recently released White House report on crypto mining. -change.

According to Huffman, a California representative and member of the Democratic Party, the silence of federal agencies could well mean “this problem [environmental damage allegedly caused by crypto mining] is potentially getting worse.

As stated in a Bloomberg law report, U.S. energy and environment officials have not announced plans to pursue possible efficiency standards or to conduct energy use studies as required by the White House report. . For example, Costa Samaras, senior deputy director for energy in the Office of Science and Technology Policy, is quoted in the report acknowledging that the agencies have yet to issue a response.

“Each agency reviews the recommendations and will announce commitments within its own process and timeline,” Samaras reportedly said.

On the other hand, Samaras’ counterparts at the Federal Energy Regulatory Commission (FERC) and the North American Electric Reliability Commission (NAERC) insisted that they already have protective measures in place in the event of a shortage. of the network, so there are no plans to do a reliability assessment specifically for cryptocurrency.

Crypto mining should not be isolated from grid studies

In his reportTitled “Climate and Energy Implications of Crypto Assets in the United States,” the White House said FERC and NAERC, along with regional entities, “should conduct reliability assessments of current and planned crypto mining operations. crypto-assets on the reliability and adequacy of the power system.”

The White House report also implored agencies responsible for collecting energy information to “consider collecting and analyzing information from crypto-asset miners and electric utilities in a privacy-preserving manner to enable evidence-based decisions on the energy and climate implications of crypto-assets”.

Unimpressed with the agencies’ justifications, Huffman, who has campaigned for greater scrutiny of crypto-mining facilities, warned that he would be forced to take action if nothing is done. He said:

If I don’t hear from them in the next few weeks, I’ll definitely pick up the phone and find out what’s going on.

Meanwhile, Huffman’s fellow Democrat and FERC Commissioner Allison Clements is quoted in the Bloomberg Law report insisting that crypto mining should not be isolated from grid studies.

“It is not clear to me that an individual reliability assessment related to cryptocurrency mining, which occurs in places, should be separated from the overall reliability planning of a particular node, from a service territory, a region, an interconnection,” Clements reportedly said.

The FERC commissioner added that while crypto mining is something that’s on the agency’s radar, she had “nothing to report, compared to anything that’s coming soon.”

What are your thoughts on this story? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively on the economic issues of some African countries as well as how digital currencies can provide an escape route for Africans.














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