Members of the US House of Representatives' Natural Resources Committee are today calling on federal environmental officials to take further action to protect against the consequences of cryptocurrency mining, citing the impact on the environment and on communities due to outsized greenhouse gas emissions and the effects of air, water, and noise pollution from crypto mining facilities. Let's discuss.
US officials take crypto concerns to the Environmental Protection Agency
Member of the House of Representatives Committee on Natural Resources, Jared Huffman and several of his colleagues have issued a letter, calling on the Environmental Protection Agency (EPA) to ensure that crypto mining facilities are not violating foundational environmental statutes, in particular, the Clean Air Act and Clean Water Act. In the letter, the group cited reports which allege that "cryptocurrency facilities across the country are polluting communities and are having an outsized contribution to greenhouse gas emissions".
"The rapidly expanding cryptocurrency industry needs to be held accountable to ensure it operates in a sustainable and just manner to protect communities," Huffman and colleagues stated in the letter, pointing out that efforts to re-open closed gas and coal facilities to power cryptocurrency mining undermine efforts to combat the climate crisis.
Describing cryptocurrency mining as poisoning communities, the group added, "While some facilities claim to be 'cleaner' by creating energy from coal refuse, these coal-fired power plants still emit hazardous air pollutants and leak toxic contaminants into our waterways."
Papers show EU Officials Discussed Proof of Work Ban
The US letter comes on the heels of news that over in the EU, in November and again as recent as February of this year, officials have been discussing a proof of work ban. Papers published by the German website, netzpolitik.org, reveal that Swedish financial and environmental regulators and members of the European Commission's digital policy arm discussed the possibility of banning the proof of work method during a meeting in November.
Minutes of another meeting held on February 3rd, indicate that German officials joined the Swedish in expressing concern, "about energy usage related to crypto mining as climate transition challenges raised a number of worries". And, friends, before you get alarmed by this EU update, it should be noted that European lawmakers rejected an attempt to ban proof of work mining in March 2022.
Is it possible that there can be another attempt to ban proof of working mining in the EU? Of course, so this is definitely a development to monitor. As far as the US though, it would be interesting to see what the EPA's response to the Representatives' letter will be.
I'm not familiar with US law, so I don't want to bungle this, but I'd love for one of you guys to tell me what the implications are for proof of work mining based on the Acts cited by the US Representatives, i.e., the Clean Air Act and Clean Water Act.
Also, my friends, as we are here and as conversations continue about the environmental implications for proof of work mining, do you see a future where Bitcoin could shift to proof of stake? To date, I've read that such a move is highly unlikely and maybe even impossible, but I'd love to hear your thoughts. My concern is that if there continues to be attempts to shut down proof of work mining maybe one of those attempts will succeed and I am concerned about the implications for that. If you recall, there were quite a few threats in China before the eventual ban. Now, I know the politics are vastly different between China and the West, but I'm just saying.
Anyways, tell me what you think about this one, guys. I'm off again in search of another story. I hope to bring you an update early in the morning, so please stay tuned for that. Until we meet again, please remember to be safe. Arrivederci!
