Crypto News

Massachusetts Senator Forwards Bill Aimed at Forcing Crypto Miners to Report Greenhouse Gas Emissions – Bitcoin News

On Dec. 8, 2022, three Democratic politicians from Massachusetts, Oregon, and California revealed laws aimed at combatting “energy-intensive” cryptocurrency mining operations. The invoice launched by senator Ed Markey (D-MA) alleges that crypto mining “strains the grid” and the trade “undermines U.S. climate goals.”

3 U.S. Bureaucrats Believe Crypto Miners Need to Report Carbon Emissions and Environmental Assessments

Senators Ed Markey (D-MA), Jeff Merkley (D-ORE), and Jared Huffman (D-CA) have introduced a invoice that might require “an interagency study on the environmental and energy impacts of crypto asset mining.” Markey’s press launch regarding the “Crypto Asset Environmental Transparency Act” particulars that the U.S. Environmental Protection Agency (EPA) would lead the research.

Furthermore, the EPA would assess crypto mining exercise within the U.S. and operations could be required to report greenhouse gasoline (GHG) emissions. Crypto mining firms required to report GHG emissions could be “operations that consume more than 5 megawatts of power,” the press launch particulars.

“Big-money [crypto mining] companies are undermining decades of progress in our fight against climate change by putting profits over the promise of our clean energy future – jeopardizing the reliability and safety of our grid in the process and making it all the more likely for utilities to raise energy prices on working families,” senator Markey stated on Thursday.

Representative Jared Huffman stated the invoice would lastly pull “the curtain back on this industry.” Huffman added:

The time for transparency, oversight, and accountability is now.

The bureaucrats’ invoice goals to fight so-called local weather change, a story that U.S. politicians and leaders worldwide have been pushing for years. Markey’s opinions observe quite a lot of research and analysis reviews that point out operations like bitcoin (BTC) mining are literally advantageous, not just for relieving the grids leveraged but in addition eradicating carbon emissions.

For occasion, the environmental, social, and governance (ESG) analyst, Daniel Batten, revealed a report that claims bitcoin mining might get rid of the world’s carbon emissions by 5.32%. On Nov. 29, 2022, the Electric Reliability Council of Texas (ERCOT) revealed a report that exhibits bitcoin mining is useful to the Texas grid. ERCOT’s research signifies that bitcoin mining operations in Texas might curtail 1.7 gigawatts (GW) of vitality throughout the Texas winter.

Bitcoin mining can be recognized to mitigate flare gasoline (the discharge of uncooked gasoline into the ambiance) and landfill gasoline. In the press launch revealed on Thursday, nonetheless, U.S. senator Merkley argued that “Crypto asset mining consumes massive amounts of electricity” and burdened “most of which is generated by burning fossil fuels.” However, numerous research over time indicate {that a} majority of bitcoin mining operations are pushed by renewable vitality sources.

The bureaucrats’ act is endorsed by the Sierra Club, Earthjustice, Environmental Working Group, and Seneca Lake Guardian. “Digital assets that rely on proof-of-work are wasteful by design,” Scott Faber, the senior vice chairman for presidency affairs at the Environmental Working Group stated in a press release. “Strong federal regulations must address” the scenario, Earthjustice’s clear vitality legal professional Mandy DeRoche added.

Tags on this story
Bitcoin, Bitcoin Mining Operations, Bureaucrats, california, Carbon Emissions, local weather change, local weather disaster, Democratic politicians, Earthjustice, Ed Markey (D-MA), Energy, Environmental Working Group, EPA, Flare Gas, GHG emissions, greenhouse gasoline, grid, Jared Huffman (D-CA), Jeff Merkley (D-ORE), Legislation, Massachusetts, Mining Operations, oregon, renewables, Seneca Lake Guardian, Sierra Club

What do you consider the U.S. bureaucrats’ invoice that goals to regulate crypto mining and power operations to report greenhouse gasoline emissions? Let us know what you consider this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com News in regards to the disruptive protocols rising at present.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational functions solely. It shouldn’t be a direct provide or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the company nor the creator is accountable, immediately or not directly, for any injury or loss triggered or alleged to be brought on by or in reference to using or reliance on any content material, items or companies talked about on this article.

Back to top button