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Bitcoin’s Environmental Impact Is “Real Issue,” Says Senator Elizabeth Warren

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Fri, 05/07/2021 - 17:21
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Alex Dovbnya
Progressives are becoming increasingly critical of Bitcoin mining
Bitcoin’s Environmental Impact Is “Real Issue,” Says Senator Elizabeth Warren
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Massachusetts Senator Elizabeth Warren called attention to Bitcoin’s environmental impact during her recent conversation with Andy Serwer, the editor-in-chief of Yahoo Finance:     

I also think with bitcoin, and with the other cryptocurrencies, I think there's a real issue about the environmental impact as well, this whole notion of how much energy is consumed just to keep the currency tracking going

Bitcoin’s enormous energy consumption became a hot-button issue in 2021, with New York lawmakers recently proposing a bill that would suspend mining for three years.    

Warren notes that bank deposits don’t use that much energy, urging consumers to be more “sensitive” to their choices.

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SEC Chair Says a Lot of Crypto Tokens Are Securities, Calls Bitcoin "Store of Value"
When it comes to regulating cryptocurrencies, the former presidential candidate relies on the expertise of the U.S. Securities and Exchange Commission:        

I put this one, again, with the SEC, a reminder why we need a good strong regulatory agency that can continue to update.

During her March appearance on CBNC, Warren predicted that Bitcoin “would end badly.”

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.