The New York State Financial Services Authority (NYDFS) has asked cryptographic and other regulated companies to assess financial risks associated with climate change. CoinDesk has written about this.
The regulator noted that a global temperature Crypto Engine increase of one degree Celsius would cause a 1.2 per cent loss to the US GDP. This threatens to devalue assets and losses.
Representatives of the NYDFS cryptographic industry were reminded that mining can have a significant impact on the environment. According to the regulator, they should develop strategies to overcome risks and increase transparency regarding the equipment for bitcoin extraction.
In March, the New York regulator recommended that cryptographic companies prepare an emergency plan in connection with the COVID-19 pandemic. It had to take into account the employee protection strategy, financial risk assessment procedures and other measures.