In an advanced report, the Chamber of Digital Commerce (CDC) revealed plans to launch an strategic coalition dubbed Digital Power Network (DPN) to support the agency in promoting innovation. The launching of DPN aims to support the organization in establishing robust trade associations in the blockchain and crypto sectors.
In a publication, the Chamber outlined the objective of launching the DPN and its significance to crypto miners. The report underlined that the DPN will give crypto miners a new voice in Washington in readiness for the next bull market.
Significance of Digital Power Network
According to the report, the Chamber stated that the DPN will support redefining the future of the US energy sector by implementing effective policies on crypto mining. In the report, the organization noted that the DPN will campaign for blockchain and Bitcoin technology. Primarily, the DPN seeks to transform the US energy sector by adopting emerging technologies such as blockchain.
The launching of the DPN came when regulators and environmentalists were gearing up to implement new ordinances to control noise and other crypto mining activities.
Despite the regulatory pressure on crypto mining, the DPN seeks to onboard the highest number of miners in the US. Presently, 11 crypto miners, including Marathon, Sustainable Bitcoin Protocol (SBP), BitDigital, Coinmint, Cipher Mining, and others, have joined the alliance.
US Seeks to Restrict Crypto Mining
Ideally, officials at the Chamber’s Mining initiative first presented the bill to form the alliance for crypto miners at the House of Representatives. In the submission, the Chamber stressed the need to establish proof of work (PoW) crypto mining to foster economic growth and promote attaining the sustainable energy goals.
In the proposal, the Chamber stated that the PoW supports the blockchain network to be trusted and decentralized. In March, Texas congressman Pete Session submitted the revised bill of PoW crypto mining. Session discussed the importance of Bitcoin mining in restoring energy independence in the US.
Regulation on Crypto Mining
The congressman’s report ignited heated exchanges among US policymakers and regulators. In a subsequent submission, Senator Edward Markey and his ally Jared Huffman formulate a new bill on crypto mining.
The two policymakers demanded the crypto miners disclose vital information on mining to the Environmental Protection Agency (EPA). The bill indicated that mining facilities consuming over 5 megawatts would undergo an EPA interagency investigation to assess complaince with the enviromental measures.
Markey underscored the need to limit the emission of greenhouse gasses that expose the community to inherent risks. The Markey proposal obliged other regulators to team up and regulate crypto-mining activities more keenly. The restrictions on crypto mining were led by the Arkansas policymakers who hurriedly sought to implement an emergency act to control noise from the data centers.