Bitcoin Mining and ESG: The States Start Moving

New York was the first state to impose restrictions on bitcoin mining, but it won’t be the last. Oregon and Washington are lining up their own legislation, highlighting the industry’s environmental, social, and governance challenges. Still other states are eager to be bitcoin-mining havens. The situation presents a maze of challenges for the industry beyond what’s brewing in Congress and in federal regulators’ offices.

The industry must engage its would-be regulators and legislative overseers through lobbying and education, working toward cooperative solutions when they make sense and mounting strategic resistance when they don’t. Although a coherent national policy toward bitcoin mining and cryptocurrency in general would remove a lot of the mystery, many ESG matters will still be addressed at the state level and will require the industry’s attention and participation.

Key questions discussed in this report:

• What notable legislative efforts are being mounted in the states with regard to bitcoin mining and environmental concerns?
• How are mining-friendly states removing barriers to operations?
• How can the cryptocurrency industry work with lawmakers in various state jurisdictions to ease environmental concerns and widen the field for operations?

Companies Mentioned:

Bitcoin, Ethereum