Democratic Senator Elizabeth Warren, who is known to be a fierce crypto critic, is now part of an effort by lawmakers to learn more about the energy use of crypto mining.
According to letters shared with the media, the new initiative aims to increase transparency requirements for crypto mining companies, especially when their activities are likely to emit pollution and greenhouse gases.
The letters were signed by Democratic Senators Elizabeth Warren, Sheldon Whitehouse, Ed Markey, Jeff Merkle, Dick Durbin as well as Representatives Jared Huffman, Katie Porter and Rashida Tlaib.
Information must be disclosed to federal agencies
The lawmakers also noted in the documents that federal agencies have the authority to compel crypto mining companies to disclose how much energy their operations use, as well as how much greenhouse gases they emit. .
It’s a right that Democratic lawmakers now want government agencies to use.
The Environmental Protection Agency (EPA) previously told lawmakers that it is empowered under the Clean Air Act to collect pollution data from companies that emit more than 25,000 tons of CO2 annually.
However, judging by the new letters, lawmakers now want to know whether the EPA has already listed all these companies. And if not, by when do you plan to do so?
The information was disclosed in letters between senators and public agencies obtained by the publication ledge,
Senator Huffman also shared the news on Twitter, where he said the Biden administration “must make sure [crypto mining] Companies are becoming transparent about their emissions and how much energy they actually use.
The matter is now considered especially important by some American politicians, since the arrival of large numbers of mining companies in the US. Crypto mining banned in China, they argued. In October 2021, researchers at Cambridge University found that America had become the biggest bitcoin mining hub in the world after the mass exodus of miners from China.
Long history of criticizing crypto
Senator Warren has a long history of criticizing bitcoin and the wider crypto industry, and has in the past “Rogue Nations” Targeted He claimed to be using crypto to “evade sanctions and finance terrorism”.
The same senator has also previously asked major financial services firm Fidelity Rethink offering workplace retirement plans With bitcoin exposure.
Warren, along with fellow Democratic senators Richard Durbin and Tina Smith, said “the digital asset industry has only become more volatile, volatile and chaotic – all characteristics of the asset class, nowhere to sponsor a plan or save for retirement.” should not go,” wrote in a letter sent to Fidelity CEO Abigail Johnson in November last year.
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