As a new stronghold of crypto mining following China’s activity ban, the United States does not intend to give carte blanche to minors residing on the territory. Local authorities are particularly concerned about the potential environmental impacts resulting from mining practices. US lawmakers have therefore launched a bill that would require miners to report their greenhouse gas emissions.
Mining centers with more than 5 MW consumption in the sights of the authorities
baptized Crypto Asset Environmental Transparency Act, the new crypto mining law is an initiative of California Rep. Jared Huffman. the latter has claimed on Twitter that is his goal Curtain up on the harmful environmental impact of cryptocurrencies “.
In particular, during his presentation on November 8th, he recalled that the Bitcoin miner use up to 1.4% of US electricity, based on a report by the Office of Science and Technology Policy. Backed by Sen. Edward J. Markey, Jared Huffman said the bill would require the Environmental Protection Agency (EPA) to report mining centers that use more than 5 megawatts.
The EPA will also be responsible for conducting a detailed study on the environmental impact of cryptos in collaboration with multiple agencies. Finally, crypto miners are encouraged to do so 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 was well received by US lawmakers. In particular, they exploited this to attack proof-of-work based cryptos that Force miners to use a lot of electricity.
The Huffman rep also pointed out that mining this type of crypto eventually “creates” tons of e-waste », creating additional sources of pollution. He deplored the wait-and-see approach that has fueled the implosion of crypto scams, saying authorities must take responsibility for the climate and environmental impacts of assets like bitcoin.
The 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 understood this by investing in BTC mining powered by through renewable energies in Africa.
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Far from dampening my enthusiasm, an unsuccessful cryptocurrency investment in 2017 only heightened my enthusiasm. I therefore decided to study and understand the blockchain and its many uses and use my pen to share information related to this ecosystem.