Sunday, June 22, 2025
  • Login
198 Japan News
No Result
View All Result
  • HOME
  • BUSINESS NEWS
  • VIDEO NEWS
  • FEATURED NEWS
    • JAPAN US TRADE NEWS
    • JAPAN EU NEWS
    • JAPAN UK NEWS
    • JAPAN INDIA NEWS
    • JAPAN RUSSIA NEWS
    • JAPAN GULF NATIONS NEWS
    • JAPAN AFRICA NEWS
    • JAPAN EGYPT NEWS
    • JAPAN NIGERIA NEWS
    • JAPAN MEXICO NEWS
    • JAPAN BRAZIL NEWS
    • JAPAN THAILAND NEWS
    • JAPAN INDONESIA NEWS
  • CRYPTO
  • POLITICAL
  • TECHNOLOGY
  • JAPAN AGRICULTURE NEWS
    • JAPAN MANUFACTURE NEWS
    • JAPAN AGRICULTURE NEWS
    • JAPAN IMMIGRATION NEWS
    • JAPAN UNIVERSITY NEWS
    • JAPAN EDUCATION NEWS
    • JAPAN VENTURE CAPITAL NEWS
    • JAPAN JOINT VENTURE NEWS
    • JAPAN BUSINESS HELP
    • JAPAN PARTNESHIPS
  • ASK IKE LEMUWA
  • CONTACT
198 Japan News
  • HOME
  • BUSINESS NEWS
  • VIDEO NEWS
  • FEATURED NEWS
    • JAPAN US TRADE NEWS
    • JAPAN EU NEWS
    • JAPAN UK NEWS
    • JAPAN INDIA NEWS
    • JAPAN RUSSIA NEWS
    • JAPAN GULF NATIONS NEWS
    • JAPAN AFRICA NEWS
    • JAPAN EGYPT NEWS
    • JAPAN NIGERIA NEWS
    • JAPAN MEXICO NEWS
    • JAPAN BRAZIL NEWS
    • JAPAN THAILAND NEWS
    • JAPAN INDONESIA NEWS
  • CRYPTO
  • POLITICAL
  • TECHNOLOGY
  • JAPAN AGRICULTURE NEWS
    • JAPAN MANUFACTURE NEWS
    • JAPAN AGRICULTURE NEWS
    • JAPAN IMMIGRATION NEWS
    • JAPAN UNIVERSITY NEWS
    • JAPAN EDUCATION NEWS
    • JAPAN VENTURE CAPITAL NEWS
    • JAPAN JOINT VENTURE NEWS
    • JAPAN BUSINESS HELP
    • JAPAN PARTNESHIPS
  • ASK IKE LEMUWA
  • CONTACT
No Result
View All Result
198 Japan News
No Result
View All Result
Home JAPAN CRYPTO NEWS

Congress Sends Letter to EPA Extolling Proof of Work Mining Benefits

by 198 Japan News
June 17, 2022
in JAPAN CRYPTO NEWS
Reading Time: 3 mins read
A A
0
Congress Sends Letter to EPA Extolling Proof of Work Mining Benefits
Share on FacebookShare on Twitter

[ad_1]

Congress Sends Letter to EPA Extolling Proof of Work Mining Benefits

You might also like

FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy ‘Hundreds of Millions’ to Help Crypto Industry – Bitcoin News

Art Blocks Does It Differently And Frequently

Chainlink Keepers automates impermanent loss return on Armadillo

U.S. Congress issued another letter to the Environmental Protection Agency (EPA) on Thursday with more educational material on proof of work. This time, however, it came with a positive spin – and was co-signed by a handful of crypto bulls, rather than skeptics.

The Promises of Proof of Work

The letter calls on the EPA to pursue a “comprehensive analysis” when attempting to understand the environmental effects of digital assets. While the congressional letter in April focused heavily on energy consumption as a metric of environmental harm, Thursday’s message argues that the debate is more nuanced.

For instance, it claims that a “substantial portion” of energy used in mining Bitcoin is extracted from renewable sources. Indeed, according to the Bitcoin Mining Council’s estimates, about 58% of the global mining industry is powered by sustainable energy right now.

Estimates from New York – which is on the verge of passing a moratorium on carbon-based crypto mining – run as high as 80%. Despite opposing Bitcoin mining in the past, New York City Mayor Eric Adams wishes to see this ban vetoed by Governor Hochul.

His reason is the same for which Congress called for extra consideration from the EPA: He wishes not to place barriers on the growth of a new and wealthy industry.

“At a time of rapid technological innovation, we must affirm our commitment to responsible innovation to ensure future generations of Americans continue to enjoy prosperity and opportunity,” reads the letter.

The letter also argued that miners can have a “substantial stabilizing effect on energy grids.” The industry can provide sufficient demand to justify “robust baseload” levels, while also shutting down immediately during times of peak demand.

Texas Governor Greg Abbott is pursuing one such strategy. To support his region’s weak energy grid, he is inviting more miners to his state to encourage the growth of power generation facilities. Contrarily, many other jurisdictions like Iran have chosen to place temporary bans on mining on a seasonally adjusted basis to keep the grid alive.

Finally, the letter claims that digital assets will be “essential” to the United States’ economic future. “The United States, as the global financial services leader, cannot rest on its laurels.”

The letter is co-signed by multiple crypto-supportive congresspeople including Cynthia Lummis, Patrick McHenry, and Tom Emmer. Lummis is one of two senators behind the landmark digital asset regulation bill unveiled earlier this month.

The Mining Council’s Letter

The Bitcoin Council also sent a letter to the EPA in April debunking claims made within the first congressional letter on the topic. Alongside mentions of renewable energy and grid support, it also ruled out the proof-of-stake consensus model as an alternative for Bitcoin.

“Given how contrary Proof of Stake would be to the objectives of Bitcoin, the prospects for transitioning Bitcoin to Proof of Stake are completely impracticable,” it read.

Proof of Stake uses cryptocurrency, rather than energy, to provide a model for determining the true state of a blockchain ledger. Some regulators still believe that such a transition can be encouraged, such as Commodities and Futures Trading Commission (CFTC) Chairman Rostin Benham.

The council’s letter was signed by many influential figures in the Bitcoin community, including MicroStrategy CEO Michael Saylor and Block Head Jack Dorsey.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.



[ad_2]

Source link

Tags: benefitsCongressEPAExtollingletterMiningProofsendswork
Share30Tweet19

Recommended For You

FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy ‘Hundreds of Millions’ to Help Crypto Industry – Bitcoin News

by 198 Japan News
July 24, 2022
0
FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy ‘Hundreds of Millions’ to Help Crypto Industry – Bitcoin News

The founder and CEO of the leading exchange FTX, Sam Bankman-Fried has offered to give early liquidity to Voyager Digital’s customers, according to an announcement FTX published on...

Read moreDetails

Art Blocks Does It Differently And Frequently

by 198 Japan News
July 22, 2022
0
Art Blocks Does It Differently And Frequently

Unlike other NFT collections, Art Blocks is a platform. Its focus is generative or algorithmic artworks. The artists create the style of the collection, the colors and forms,...

Read moreDetails

Chainlink Keepers automates impermanent loss return on Armadillo

by 198 Japan News
July 22, 2022
0
Chainlink Keepers automates impermanent loss return on Armadillo

Armadillo, a multi-chain impermanent loss (IL) protection solution powered by the Crypto Volatility Index (CVI) from COTI, will be using Chainlink Keepers on Polygon to automate IL protection...

Read moreDetails

NFT sales will fund the restoration of physical monuments in Ukraine

by 198 Japan News
July 22, 2022
0
NFT sales will fund the restoration of physical monuments in Ukraine

The Ukrainian government will be using the proceeds of sales from an online nonfungible token, or NFT, museum to restore artwork in the real world.According to a Friday...

Read moreDetails

Gensler Says SEC Should Regulate Crypto Lending Companies

by 198 Japan News
July 21, 2022
0
Gensler Says SEC Should Regulate Crypto Lending Companies

Key Takeaways SEC chair Gary Gensler told CNBC today that crypto lending firms fall under the scope of the securities regulator. He noted that crypto lending firms offer...

Read moreDetails
Next Post
Ubitquity launches ‘Crypto Listing Service’ to grow real estate transactions in crypto » CryptoNinjas

Ubitquity launches 'Crypto Listing Service' to grow real estate transactions in crypto » CryptoNinjas

Russian warships pass Izu Islands south of Tokyo

Russian warships pass Izu Islands south of Tokyo

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Caralluma Burn Appetite Suppressant

Caralluma Burn Appetite Suppressant

June 27, 2022
Grofers ex-founder’s new venture to expand quick-commerce into Amazon, Nykaa’s turf. Will it work?

Grofers ex-founder’s new venture to expand quick-commerce into Amazon, Nykaa’s turf. Will it work?

May 1, 2022
World’s Top 10 Textile Companies

World’s Top 10 Textile Companies

April 4, 2022
Personal info leaks from listed Japan firms hit record high in 2021

Personal info leaks from listed Japan firms hit record high in 2021

February 23, 2022
My Ex-Father-in-Law, the Japanese Radical

My Ex-Father-in-Law, the Japanese Radical

September 27, 2021
FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy ‘Hundreds of Millions’ to Help Crypto Industry – Bitcoin News

FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy ‘Hundreds of Millions’ to Help Crypto Industry – Bitcoin News

July 24, 2022
FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy ‘Hundreds of Millions’ to Help Crypto Industry – Bitcoin News

FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy ‘Hundreds of Millions’ to Help Crypto Industry – Bitcoin News

0
California governor declares emergency over wildfire near Yosemite

California governor declares emergency over wildfire near Yosemite

0
China accuses Japan of interfering in its internal affairs on Taiwan question

China accuses Japan of interfering in its internal affairs on Taiwan question

0
Kyodo News Digest: July 24, 2022

Kyodo News Digest: July 24, 2022

0
Neymar declares wish to stay at Paris Saint Germain

Neymar declares wish to stay at Paris Saint Germain

0
With an eye on China, Seoul seeks to prevent tech leaks

With an eye on China, Seoul seeks to prevent tech leaks

0
FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy ‘Hundreds of Millions’ to Help Crypto Industry – Bitcoin News

FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy ‘Hundreds of Millions’ to Help Crypto Industry – Bitcoin News

July 24, 2022
California governor declares emergency over wildfire near Yosemite

California governor declares emergency over wildfire near Yosemite

July 24, 2022
China accuses Japan of interfering in its internal affairs on Taiwan question

China accuses Japan of interfering in its internal affairs on Taiwan question

April 8, 2025
Kyodo News Digest: July 24, 2022

Kyodo News Digest: July 24, 2022

July 24, 2022
With an eye on China, Seoul seeks to prevent tech leaks

With an eye on China, Seoul seeks to prevent tech leaks

July 23, 2022
Brands of Baseball Gloves

Brands of Baseball Gloves

July 23, 2022
  • Browse the latest updates from Japan
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions

Copyright © 2025 198 Japan News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Browse the latest updates from Japan
  • Landing Page
  • Buy JNews
  • Support Forum
  • Contact Us

Copyright © 2025 198 Japan News.