President Joe Biden’s Wednesday executive order on cryptocurrency outlines a range of new policy objectives and measures, including language on the climate-related effects of cryptocurrencies and on the potential for a U.S. central bank digital currency (CBDC). “We must take strong steps to reduce the risks that digital assets could pose to … climate change and pollution,” the executive order states; “climate change and pollution” come at the end of a long list of prospective dangers. Section 5 of the EO, “Measures to Protect Consumers, Investors, and Businesses,” includes a subsection, (b) vii, telling the Director of the White House Office of Science and Technology Policy (OSTP) to lead work on an interagency report examining climate and energy concerns around cryptocurrency. The OSTP is currently led by Alondra Nelson, a social science professor at the Institute of Advanced Study with a doctorate in American studies, who has been a member of …
Biden’s Crypto EO Weighs Climate Change, Ponders Digital Dollar
March 10, 2022
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