United States Senator Edward Markey and Representative Jared Huffman announced on March 3 that they will reintroduce the Crypto-Asset Environmental Transparency Act in Congress. The move comes ahead of a Senate hearing on the environmental impact of crypto mining, which Markey will chair on March 7.
Markey and Huffman first introduced the bill in December, in the previous Congress. Senator Jeff Merkley acted as co-sponsor in the Senate.
The bill requires crypto mining companies to disclose emissions for operations that use more than 5 megawatts of power and requires the administrator of the Environmental Protection Agency (EPA) to lead an interagency investigation into the impact of crypto mining in the United States. The investigation will have a budget of $5 million and publish its findings within 18 months of the bill.
Another 100% on permanent records! Thank you for this recognition, @LCVoters.
I will continue to work hard to ensure a healthy and thriving planet for all. #LCVScorecard pic.twitter.com/UGpXIrJZFV— Rep. Jared Huffman (@RepHuffman) March 2, 2023
Markey listed 16 public organizations that support the bill, including groups like the Sierra Club, Greenpeace USA and the National Stop Crypto Coalition. He said in a statement:
“Crypto miners are siphoning megawatt after megawatt from our public grid and emitting skyrocketing greenhouse gases, in order to make money for themselves. We can’t let this industry run roughshod over our communities anymore.
Markey will chair a meeting of the Senate Environment and Public Works Committee’s Subcommittee on Clean Air and Nuclear Safety. The meeting will “focus on the urgent need to address the environmental impacts of cryptomining,” Markey said.
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Markey and Huffman were among the Democratic lawmakers who wrote to EPA Administrator Michael Regan and Energy Secretary Jennifer Granholm in February asking the agencies to “work together to address the lack of information on cryptomining’s energy use and environmental impacts.” He also signed a letter to the CEO of the Electric Reliability Council of Texas requesting information on crypto mining’s energy use and environmental impact in Texas. Senator Elizabeth Warren was the lead author of both letters.