Bloomberg Technology
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The Fight Over Regulating Crypto Energy Use | Crypto IRL
Posted
October 20, 2022
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2,980
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October 20, 2022
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Environmental activists are looking to replicate a New York law to stop what they see as excessive crypto energy use, forcing Bitcoin miners to adopt new techniques such as "proof of stake." But miners in states like Texas counter that regulation won't save energy in the long term, and that the benefits of digital assets will outweigh the costs.
Liz Moran of the environmental advocacy group Earth Justice says crypto mining and government oversight of energy consumption can coexist. Jason Les, chief executive of Riot Blockchain, contends recent economic shocks have made the use case for Bitcoin more important than ever.
#crypto #bitcoin #bloomberg
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