The Alpha:

  • Early in September 2022, the White House published a report calling for more sustainable practices across the blockchain industry.
  • Now, the White House has offered solutions in the form of a comprehensive framework centered around the “responsible development of digital assets.” This framework outlines the actionable next steps that will be taken, which include things like:
    • Regulators scaling up investigations into digital asset market misconduct, redoubling their enforcement efforts when it comes to existing rules and regulations, and strengthening interagency coordination.
    • The Financial Literacy Education Commission leading public-awareness efforts to help consumers understand the risks involved with digital assets.
    • The Department of Energy, the Environmental Protection Agency, and other agencies tracking “digital assets’ environmental impacts; developing performance standards as appropriate; and providing local authorities with the tools, resources, and expertise to mitigate environmental harms.”

Why it matters

When the White House issued a March executive order calling for all crypto-dependent industries to move towards a more sustainable existence, many individuals in the space were worried about all-ou