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

cryptonews.com:

US lawmakers have expressed intentions to reintroduce a bill that would require crypto mining companies to disclose emissions data for operations that use more than five megawatts of electrical power.

On Friday, United States Senator Edward Markey and Representative Jared Huffman revealed intentions to reintroduce the Crypto-Asset Environmental Transparency Act in Congress in a bid to promote greater transparency around crypto mining and its environmental impacts. 

The bill was initially put forward in December 2020 during the last Congressional session, with Sen. Jeff Merkley acting as its cosponsor in the Senate.

More specifically, the bill would require crypto mining companies to disclose emissions for operations that consume 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."

Moreover, the bill would require the administrator of the Environmental Protection Agency (EPA) to head up an interagency investigation of the impact of crypto mining in the United States. That investigation would have a $5 million budget and publish its findings within 18 months of the passage of the bill.

In a press release, Senator Markey listed 16 public organizations that support the bill, including such groups as the Sierra Club, Greenpeace USA, Food and Water Watch, and National Stop Crypto Coalition. He said in a comment:

"While we’re working together as a nation to face down an existential crisis that puts the health and safety of our people and our planet in jeopardy, crypto miners are sucking megawatt after megawatt from our public grids and