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ARTICLE · 19 SEPTEMBER 2022

Office Of Science And Technology Publishes EO Report On Crypto-Assets

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Last week, in accordance with President Joe Biden's Executive Order on Ensuring Responsible Development of Digital Assets, an interagency group led by the White House Office...

United StatesTechnology
Robert A. Musiala Jr.
Robert A. Musiala Jr.
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Last week, in accordance with President Joe Biden's Executive Order on Ensuring Responsible Development of Digital Assets, an interagency group led by the White House Office of Science and Technology Policy published its report titled "Climate and Energy Implications of Crypto-Assets in the United States." The 46-page report "explores the challenges and opportunities of crypto-assets for energy and climate change issues in the United States, and answers four main questions asked in Executive Order 14067."

The first question addressed by the report is "How do digital assets affect energy usage, including grid management and reliability, energy efficiency incentives and standards, and sources of energy supply?" In response, the report notes that "[f]rom 2018 to 2022, annualized electricity from global crypto-assets grew rapidly, with estimates of electricity usage doubling to quadrupling." According to the report, "[a]s of August 2022, published estimates of the

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