Report Reveals Game-Changing White House Crypto Plans That Could Have A Serious Bitcoin And Ethereum Price Impact
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The Biden administration is working on a set of policy recommendations targetting bitcoin and crypto's sky-high energy consumption and carbon footprint. A White House official said "climate and energy" need to be considered when developing digital assets such as bitcoin and ethereum. The report could be one of the first following president Joe Biden’s March executive order that directed federal agencies to get a handle on the fast-growing crypto market and industry. Last year, a strict bitcoin, ethereum and crypto crackdown in China caused the country's miners to flee abroad and sparked a disastrous price crash that wiped trillions of dollars from the crypto market. Bitcoin miners secure the network and validate transactions by directing computing power toward it in return for newly created coins in return. Source