{"id":15301,"date":"2022-12-09T10:05:47","date_gmt":"2022-12-09T10:05:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/massachusetts-senator-forwards-bill-aimed-at-forcing-crypto-miners-to-report-greenhouse-gas-emissions-bitcoin-news\/"},"modified":"2022-12-09T10:05:47","modified_gmt":"2022-12-09T10:05:47","slug":"massachusetts-senator-forwards-bill-aimed-at-forcing-crypto-miners-to-report-greenhouse-gas-emissions-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/massachusetts-senator-forwards-bill-aimed-at-forcing-crypto-miners-to-report-greenhouse-gas-emissions-bitcoin-news\/","title":{"rendered":"Massachusetts Senator Forwards Bill Aimed at Forcing Crypto Miners to Report Greenhouse Gas Emissions \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Dec. 8, 2022, three Democratic politicians from Massachusetts, Oregon, and California revealed legislation aimed at combatting \u201cenergy-intensive\u201d cryptocurrency mining operations. The bill introduced by senator Ed Markey (D-MA) alleges that crypto mining \u201cstrains the grid\u201d and the industry \u201cundermines U.S. climate goals.\u201d <\/strong><\/p>\n

3 U.S. Bureaucrats Believe Crypto Miners Need to Report Carbon Emissions and Environmental Assessments<\/h2>\n

Senators Ed Markey (D-MA), Jeff Merkley (D-ORE), and Jared Huffman (D-CA) have introduced<\/a> a bill that would require \u201can interagency study on the environmental and energy impacts of crypto asset mining.\u201d Markey\u2019s press release concerning the \u201cCrypto Asset Environmental Transparency Act\u201d details that the U.S. Environmental Protection Agency (EPA) would lead the study.<\/p>\n

Furthermore, the EPA would assess crypto mining activity in the U.S. and operations would be required to report greenhouse gas (GHG) emissions. Crypto mining companies required to report GHG emissions would be \u201coperations that consume more than 5 megawatts of power,\u201d the press release details.<\/p>\n

\u201cBig-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 \u2013 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,\u201d senator Markey said on Thursday.<\/p>\n

Representative Jared Huffman said the bill would finally pull \u201cthe curtain back on this industry.\u201d Huffman added:<\/p>\n

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The time for transparency, oversight, and accountability is now.<\/p>\n<\/blockquote>\n

The bureaucrats\u2019 bill aims to combat so-called climate change, a narrative that U.S. politicians and leaders worldwide have been pushing for years. Markey\u2019s opinions follow a number of studies and research reports that indicate operations like bitcoin (BTC)<\/a> mining are actually advantageous, not only for relieving the grids leveraged but also removing carbon emissions.<\/p>\n

For instance, the environmental, social, and governance (ESG) analyst, Daniel Batten, published a report<\/a> that claims bitcoin mining could eliminate the world\u2019s carbon emissions by 5.32%. On Nov. 29, 2022, the Electric Reliability Council of Texas (ERCOT) published a report<\/a> that shows bitcoin mining is beneficial to the Texas grid. ERCOT\u2019s study indicates that bitcoin mining operations in Texas could curtail 1.7 gigawatts (GW) of energy during the Texas winter.<\/p>\n

Bitcoin mining is also known to mitigate flare gas<\/a> (the release of raw gas into the atmosphere) and landfill gas<\/a>. In the press release published on Thursday, however, U.S. senator Merkley argued that \u201cCrypto asset mining consumes massive amounts of electricity\u201d and stressed \u201cmost of which is generated by burning fossil fuels.\u201d However, various studies<\/a> over the years indicate<\/a> that a majority of bitcoin mining operations are driven by renewable<\/a> energy sources<\/a>.<\/p>\n

The bureaucrats\u2019 act is endorsed by the Sierra Club, Earthjustice, Environmental Working Group, and Seneca Lake Guardian. \u201cDigital assets that rely on proof-of-work are wasteful by design,\u201d Scott Faber, the senior vice president for government affairs at the Environmental Working Group said in a statement. \u201cStrong federal regulations must address\u201d the situation, Earthjustice\u2019s clean energy attorney Mandy DeRoche added.<\/p>\n

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Bitcoin<\/a>, Bitcoin Mining Operations<\/a>, Bureaucrats<\/a>, california<\/a>, Carbon Emissions<\/a>, climate change<\/a>, climate crisis<\/a>, Democratic politicians<\/a>, Earthjustice<\/a>, Ed Markey (D-MA)<\/a>, Energy<\/a>, Environmental Working Group<\/a>, EPA<\/a>, Flare Gas<\/a>, GHG emissions<\/a>, greenhouse gas<\/a>, grid<\/a>, Jared Huffman (D-CA)<\/a>, Jeff Merkley (D-ORE)<\/a>, Legislation<\/a>, Massachusetts<\/a>, Mining Operations<\/a>, oregon<\/a>, renewables<\/a>, Seneca Lake Guardian<\/a>, Sierra Club<\/a><\/div>\n<\/div>\n

What do you think about the U.S. bureaucrats\u2019 bill that aims to regulate crypto mining and force operations to report greenhouse gas emissions? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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