Merge is 'a step in the right direction' to address crypto's energy usage — Rostin Behnam

Merge is ‘a step in the right direction’ to address crypto’s energy usage — Rostin Behnam


Rostin Behnam, chair of the United States Commodity Futures Trading Commission, or CFTC, said the Ethereum blockchain’s transition to proof-of-stake may help reduce crypto’s energy usage, but hinted legislation would likely still be needed to address the problem.

Speaking at a Thursday hearing before the Senate Agriculture Committee, Behnam addressed a question from Minnesota Senator Amy Klobuchar, who brought up the environmental impact of the “significant energy” required of mining cryptocurrencies. Without mentioning the Merge by name, the CFTC chair said the crypto bill currently being considered by lawmakers would require a report on energy usage that could lead to future policy discussion and “incentives to move away from carbon-intensive energy sources.”

“We’ve all heard the statistics about the amazing amount of energy used to mine coins,”

Trending: INCOMING: Election Cancelled, Biden Removed, Trump Arrested, 10 Days of Darkness?

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend