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Crypto-Asset Environmental Transparency Act of 2023

Source: Congress.gov  ·  2,214 words in original text
This bill requires the Environmental Protection Agency to create new rules so that large cryptocurrency mining operations must report their air pollution and greenhouse gas emissions. The bill also requires a detailed government study of how cryptocurrency mining affects the environment and energy use across the United States.
Cryptocurrency mining companies that use 5 megawatts or more of electrical power (or multiple smaller operations owned by the same company that together use 5 megawatts or more). The Environmental Protection Agency, Department of Energy, and Congress are responsible for implementing the bill's requirements.
- The EPA must issue a proposed rule within one year requiring large crypto-asset mining operations to report as covered facilities and to measure both direct emissions (from sources they operate) and indirect emissions (from purchased electricity) (Sec. 3(a)(1)) - The EPA must issue a final rule within 180 days after the public comment period ends on the proposed rule (Sec. 3(a)(2)) - The EPA must conduct a comprehensive study within one year examining the number and location of mining operations, greenhouse gas emissions, ecological impacts, public health effects, water use, noise pollution, and energy consumption patterns (Sec. 4(a) and 4(b)) - The EPA must submit a report on the study results to Congress and publish it on public websites within 18 months of the bill becoming law (Sec. 4(d)) - Crypto-asset mining facilities are added to federal data center energy efficiency requirements (Sec. 5)
If this bill becomes law, large cryptocurrency mining operations would have to track and report how much air pollution and greenhouse gases they produce directly and from their electricity use. Federal agencies would gather detailed information about where mining operations are located, how much energy they use, whether they comply with clean air laws, and what environmental damage they cause. This information would be made public.
- **Crypto-asset mining**: The process of performing calculations to add a valid block of data to the blockchain, typically in exchange for a reward or fee - **Qualifying crypto-asset mining operation**: A single facility using 5 megawatts or more of electrical power, or multiple facilities owned by the same company that together use 5 megawatts or more - **Scope 1 emissions**: Greenhouse gases directly from sources operated or controlled by the mining operation - **Scope 2 emissions**: Greenhouse gases from purchased electricity, steam, heat, or cooling - **Blockchain**: A distributed record-keeping system where data are shared across a network and linked using encryption (a security system using codes) - **Air pollutant**: Any substance that has the meaning given in the Clean Air Act
Not specified in bill text
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.