Recently, a document from the US Congress showed that Congress holds a positive attitude towards Bitcoin mining.
The document, named H. RES. 238, indicates that Proof-of-Work mining is an important component of the US achieving its energy goals and promoting economic growth. The document points out that digital assets Proof-of-Work mining can promote energy development through cooperation with the energy sector, leading to innovation breakthroughs and improving US energy independence. In addition, the industry will bring high-paying jobs and technical training to the areas most in need.
Therefore, the document believes that the US should invest in the digital asset industry and promote sustainable job growth and innovative development.
The proposal was initiated by Representative Pete Sessions. Currently, the proposal has not been approved by Congress.
Commentary: From the current situation, it is still difficult for the US to lift the ban on Bitcoin mining. However, from this proposal, it indirectly reflects that Bitcoin is increasingly entering people's field of vision, no longer limited to small circles.
If the US Congress supports Bitcoin mining, it will undoubtedly be a milestone development, as it will bring more legitimacy and stability to the mining industry of Bitcoin and other cryptocurrencies. This will bring more investment and innovation, promoting the development of the cryptocurrency market. It may also help to eliminate some people's negative impressions of Bitcoin, such as the association with illegal activities.
In terms of market impact, this position may increase the price of Bitcoin in the short term, as it will increase the legitimacy of Bitcoin mining, encouraging more people to join the market. However, this impact may weaken over time, as other factors such as mining costs and supply and demand will continue to affect the price of Bitcoin.
In addition, as the US is one of the largest economies in the world, this position may have an impact on the policies of other countries and regions, affecting the overall trend of the global cryptocurrency market.
Overall, once the US Congress supports Bitcoin mining, it can be viewed as a positive development, bringing more legitimacy and stability to the cryptocurrency market. However, we still need to pay attention to the impact of other factors to better understand the trends of the market.
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