Greenpeace Applauds the Introduction of a Crypto Transparency Bill
December 9, 2022
The largest climate polluter in the industry is – by far – Bitcoin. The increased transparency required in this bill will be an important step to address Bitcoin’s carbon footprint.
SACRAMENTO, CA (December 8, 2022)–In response to Sen. Ed Markey (D-Mass.) and Rep. Jared Huffman (D-Calif.) introducing the Crypto-Asset Environmental Transparency Act, which requires more reporting and analysis of the climate and energy impacts of cryptocurrency mining and will set mining energy efficiency standards, Rolf Skar, Greenpeace USA Change the Code Lead, said: “We applaud Sen. Markey and Rep. Huffman for taking initiative on regulating crypto mining’s climate impact. The largest climate polluter in the industry is – by far – Bitcoin. That is because it still relies on energy-intensive “Proof of Work” mining. Its electricity use has skyrocketed in the last five years and to access cheap energy, Bitcoin miners have revived dirty fossil fuel power plants, harming communities and our climate. The increased transparency required in this bill will be an important step to address Bitcoin’s carbon footprint. The next step will be for banks, financial institutions, and companies increasing their Bitcoin business to stop ignoring this growing problem and start supporting efforts to shift Bitcoin to an energy efficient code.”
Contact: Gigi Singh, Greenpeace USA Senior Communications Specialist, [email protected], (631) 404-9977
Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.