Crypto mining

Crypto mining

Core crypto critic Elizabeth Warren, alongside seven other democrat lawmakers, compelled the government to disclose the energy consumption data of crypto miners domiciled in the US.

The lawmakers stated that it is “essential” for a “disclosure regime” to be adopted quickly and “on a required basis” in the letter, which was addressed to key figures like Department of Energy Secretary Jennifer Granholm and EPA Administrator Michael Regan.

Warren is leading the team, and they’re hoping that this latest intervention letter will give the basis for the full-scale scrutiny of the crypto mining impacts on the energy emission goals of the US. 

The democrats are seeking to know the current position of the EPA regarding when it will implement and ensure mandatory energy data disclosure for firms, especially for those generating over 25,000 tons of carbon dioxide annually. 

As suggested by the White House’s Office for Science and Technology Policy in September, the lawmakers also inquired when the agencies intended to gather and assess data on the industry’s environmental and social impacts.

Meanwhile, EPA and Energy Dept have yet to respond officially to the letter. The EPA had already engaged the digital Chamber of Commerce services to help train crypto miners on using the Energy Star program’s Portfolio Manager tool for accessing energy consumption rates in a commercial building.

Senator Elizabeth Warren has been hard on crypto 

The 73-year-old Elizabeth Warren of Massachusetts has been a core critic of different crypto interests; she has always advocated for stricter regulations of the crypto space. 

Warren came out vehemently against the cryptocurrency industry during a hearing with the Securities and Exchange Commission (SEC) on YouTube on Jan. 26, 2023. 

According to her, most participants in the cryptocurrency market are “scared of a strong SEC,” so she urged the SEC to increase its efforts in the battle against cryptocurrency fraud.

On Jan. 31, senator Warren and others addressed a letter to embattled Silvergate Capital, a subsidiary of Silvergate Bank. The paper demanded to know the role of Silvergate Bank in the demise of the Sam Bankman-Fried-led FTX exchange. 

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