The Environmental Protection Agency (EPA) and the Department of Energy (DOE) were urged to exercise their authority to require that crypto miners disclose their energy use and emissions in a tweet sent out on Sunday by Massachusetts Senator Elizabeth Warren, a prominent progressive voice in the Democratic Party.
The lawmaker’s tweet comes as there is increasing pressure on the cryptocurrency sector to address the environmental effects of mining.
Cryptocurrency mining is criticized for its impact on global warming and carbon footprint because it uses a significant amount of energy to support transactions and maintain the blockchain.
The significant energy consumption needed to process transactions and maintain the blockchain, as well as the consequent carbon footprint and contribution to global warming, have been noted by opponents of cryptocurrency mining.
The newest step in ongoing efforts to lessen the environmental impact of the crypto business is Warren’s demand for openness from miners.
The DOE and the EPA have been pressured by Democratic senators to force cryptocurrency mining companies to publish their energy use and greenhouse gas emissions.
Despite their expansion across the US, crypto mining are raising environmental concerns, but there are no reliable data sets on how much power they use.
These disclosures would enable regulators to more effectively monitor the environmental effects of crypto mine emissions, which has been a worry because to their high energy consumption.
According to the DOE and EPA, they have “clear jurisdiction to compel emissions and energy-use disclosures” from cryptocurrency mining companies.
The seven largest cryptocurrency mining businesses in the US were unable to fully respond to the Democrats’ inquiries, prompting the lawmakers’ most recent action.
In the upcoming months, the discussion about how cryptocurrencies affect the environment is likely to heat up as politicians and regulators pay more attention to it.
