March 27, 2024
Latest Cryptocurrency News

Digital Energy Council by Crypto Miners to Drive Advocacy in Washington

Crypto miners are collaborating to establish a novel entity known as the Digital Energy Council (DEC), with the primary aim of exerting influence over U.S. policies relating to cryptocurrency regulations and energy consumption.

In a statement released on Tuesday, the DEC expressed its intention to advocate for favorable policies that promote responsible and sustainable energy advancement, enhance grid resilience, safeguard U.S. competitiveness, and uphold national security. This advocacy is particularly relevant as regulatory bodies and Congress deliberate on cryptocurrency-related regulations.

The challenges faced by cryptocurrency miners currently encompass the Biden administration’s proposition of a stringent 30% excise tax on mining activities due to perceived societal repercussions and criticism from Democratic legislators regarding the environmental consequences of these operations.

Tom Mapes, the founder and president of the DEC, underscored the vital necessity of cooperation between digital asset mining and the energy sectors. This collaboration aims to enhance the robustness, sustainability, and efficacy of energy infrastructure. Drawing from his background in the U.S. Department of Energy’s Office of International Affairs and prior involvement in energy policy with the Chamber of Digital Commerce, Mapes emphasized the value of granting both sectors genuine representation in federal discussions.

Initially, Tom Mapes will be the sole employee of the DEC, stationed in Washington, D.C. The organization’s principal objective revolves around highlighting the potential for digital asset mining to contribute to the United States’ energy objectives. The DEC stands as the singular entity in Washington, D.C., singularly dedicated to addressing the intricate intersection between extensive mining operations and energy considerations.

Image by jcomp on Freepik

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