The Future of Crypto-Asset Mining: The Inflation Reduction Act and the Need for Uniform Federal Regulation
摘要
Crypto-asset mining is energy-intensive and environmentally harmful, presenting challenges and opportunities for federal, state and local governments, regulators, and society as a whole. As a result, effective regulatory frameworks are necessary to address the explosion of energy and environmental issues caused by crypto-asset miners, who are under pressure to maximize earnings by using less expensive carbon-emitting energy. To date, crypto-asset mining has not been governed by a federal regulatory framework, but instead by a patchwork of state-by-state responses that vary from highly restrictive, such as the moratoria proposed in New York. This chapter examines existing federal, state, and local regulatory schemes that directly or indirectly address the negative effects of crypto-asset mining. Although different state and local regulations attempt to strike a balance between reducing crypto-asset mining’s negative environmental and energy consumption impact and retaining crypto’s economic benefits, the country will continue to suffer from crypto-asset mining’s severe energy and environmental consequences until there is a unified response.