Will the US impose a ban on cryptocurrency mining?
Is a new ban coming for cryptocurrency mining?
In the US, Democratic Party MPs took the first step for a ban on cryptocurrency mining. Accordingly, the proxies scrutinized companies engaged in cryptocurrency mining. Attorneys appealed to Federal agencies for the large amount of electricity these companies spend.
This proposal of the Democratic Party consists of a letter sent to the Environmental Protection Agency and the Energy Department. According to the letter, seven major crypto mining companies in the US have the capacity to use electricity as high as 1 Gigawatt.
That’s enough to afford the residential electricity of a midsize US city like Houston. In this sense, Democrat Party deputies are pursuing a ban on cryptocurrency mining. However, this ban is not expected to be implemented.