Digital Energy Council: Cryptocurrency Miners Rally for Friendly Policies in the Face of Regulatory Challenges
Cryptocurrency miners in the United States are making their voices heard in the realm of policy. They've established a new organization called the "Digital Energy Council" (DEC) to advocate for cryptocurrency-friendly policies. Currently, regulatory bodies and Congress are engaged in discussions about the next steps in cryptocurrency regulation.
In a statement released on Tuesday, the DEC announced that its member organizations will advocate for policies that promote responsible and sustainable energy development, grid resilience, the preservation of American competitiveness, and national security.
However, cryptocurrency miners have found themselves in a challenging position, particularly in front of President Joe Biden's White House. The White House has proposed imposing a punitive 30% consumption tax on mining operations, citing their negative impact on society. Additionally, mining companies have faced ongoing criticism from Democratic lawmakers who argue that these companies pose a threat to the environment.
Tom Mapes, the founder and president of the new organization, emphasized the importance of collaboration and joint efforts between the digital asset mining and energy sectors. He highlighted the need to strengthen energy infrastructure, enhance resilience, and support energy sustainability and efficiency. Mapes had prior experience working on energy policy at the Chamber of Digital Commerce, a broader cryptocurrency advocacy organization.
Mapes, who previously served as Chief of Staff at the U.S. Department of Energy's Office of International Affairs, underscored that both the energy and digital asset mining communities are key stakeholders in the nation's power grid and have a genuine voice at the federal level. He is currently based in Washington, D.C., initially serving as the sole employee of the organization, with the primary mission of emphasizing the practical role of digital asset mining in achieving America's energy goals.
Zach Bradford, CEO of CleanSpark (CLSK), a DEC member company, stated that the Digital Energy Council is the only organization in Washington, D.C. specifically focused on the intersection of the mining industry and energy abundance. He emphasized the importance of a broad and focused alliance in the political arena. CleanSpark (CLSK) has continued to grow steadily, even during the cryptocurrency bear market.
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