A study was initiated by the Office of Science and Technology Policy, an Executive Office of The President of America. It aimed to find ways to offset energy usage and to mitigate climate impacts related to digital asset.

The executive order was signed by Joe Biden, the President of the United States on March 9. Instructing federal agencies to investigate the implications of digital assets on six key areas — consumer and investor protection, financial stability, financial inclusion, responsible innovation, the United States’ global financial leadership and combating illicit financial activity.