New stronghold of crypto mining after the ban on activity in China, the United States does not intend to give carte blanche to minors present in the territory. Local authorities are particularly concerned about the potential environmental impacts resulting from the practice of mining. US lawmakers have therefore initiated a bill to require miners to report their greenhouse gas emissions.
Mining centers consuming more than 5 MW in the sights of the authorities
baptized Crypto-Asset Environmental Transparency Act, the new crypto mining bill is an initiative of California Rep. Jared Huffman. The latter has claimed on Twitter that its objective is to draw the curtain on the harmful environmental impacts of cryptocurrencies “.
He notably recalled during his presentation on November 8 that bitcoin miners use up to 1.4% of US electricity, based on a report by the Office of Science and Technology Policy. Supported by Senator Edward J. Markey, Jared Huffman said the bill would require the Environmental Protection Agency (EPA) to report mining centers consuming more than 5 megawatts.
The EPA will also be responsible for conducting a detailed study, in collaboration with several agencies, on the environmental impacts of cryptos. Finally, crypto miners will be required to report their greenhouse gas emissions. This, so that their carbon footprint is known.
Proof-of-Work (PoW) cited as a bad example
Overall, the new legislation introduced by Jared Huffman and Edward J. Markey has been well received by US lawmakers. They took advantage of this in particular to attack cryptos based on Proof-of-Work, which force miners to consume a lot of electricity.
The Huffman representative also pointed out that mining this type of crypto eventually generates “ tons of electronic waste », thus creating additional sources of pollution. Regretting the wait-and-see approach that has fostered the implosion of crypto scams, he said authorities must take responsibility for the climate and environmental impacts of assets like bitcoin.
Future US crypto mining legislation once again shows the need for miners to make their business greener and more sustainable. Jack Dorsey’s Block company has realized this by investing in BTC mining powered by renewable energy in Africa.
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