Senators call for a Treasury study on mining with new bill
September 28, 2021, 9:59AM EDT
1 min read
Two U.S. senators want the Treasury Department to take a closer look at crypto mining across the world — and they want the office to share its findings with Congress.
Senators Maggie Hassan (D-NH) and Joni Ernst (R-IA) introduced a bill Monday that would require the Treasury to craft a crypto report for Congress in the two years after enactment. The focus would be on global mining operations and their impact on supply chains, especially for certain technological industries, like semiconductors.
The study would also assess the political frameworks mining-intensive countries use for the industry. To compare, the study would also assess the types and dollar values of cryptocurrency mined within American and Chinese borders from 2016 to 2022, as well as any other countries the Treasury finds relevant.
The goal is to increase the U.S.'s global competitiveness, and Hassan says crypto is critical to keeping the U.S. on the cutting edge.
“In order to strengthen U.S. competitiveness, our government must get a better handle on the role that cryptocurrency is playing in the global economy and how it is being leveraged by other countries,” said Hassan in an announcement today.
The Block Research was commissioned by Forte to create “Blockchain-Based Gaming: A Primer” which provides a comprehensive introduction to how blockchain technology is being employed in video gaming experiences.
“It’s a global development.” On this episode of The Scoop, 10T Founder and CEO Dan Tapiero joined host Frank Chaparro to discuss his insights into the globalization of crypto markets and how his macro investing strategy has seen his fund 10T pour hundreds of millions into crypto unicorns. To date, Tapiero has already allocated the […]
The U.S. Securities and Exchange Commission is said to be allowing the first Bitcoin futures exchange-traded fund (ETF), per a Bloomberg report. The publication said in a report on Thursday night that the U.S. regulator “isn’t likely to block the products from starting to trade next week,” citing people familiar with the matter. The report […]