US Legislators Call for Greater Transparency on Crypto Mining Emissions – Regulation Incoming?

A bill that would require cryptocurrency mining companies to provide emissions data for operations that consume more than five megawatts of electrical power has been reintroduced by US senators.

To encourage more openness about crypto mining and its effects on the environment, Representative Jared Huffman and United States Senator Edward Markey announced plans to propose the Crypto-Asset Environmental Transparency Act in Congress on Friday.

Sen. Jeff Merkley served as the bill's cosponsor in the Senate when it was first introduced in December 2020 during the previous Congressional session.

For operations that use more than 5 megawatts of power or "multiple crypto-asset mining facilities that are owned by the same company and each have a power load that is less than 5 megawatts; but have a cumulative power load that is greater than or equal to 5 megawatts," the bill would specifically require crypto mining companies to disclose emissions.

Additionally, the measure would mandate that an interagency inquiry into the effects of crypto mining in the US be led by the administrator of the Environmental Protection Agency (EPA). After 18 months of the bill's approval, the $5 million study would release its findings.

Senator Markey highlighted 16 governmental organizations that support the bill in a press statement, including the National Stop Crypto Coalition, Food and Water Watch, Greenpeace USA, and the Sierra Club. 
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