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House, Senate Democrats push regulators to demand data from Bitcoin miners

A group of Congress members including US Sen. Elizabeth Warren and US Rep. Jared Huffman sent a letter to the Department of Energy (DOE) and Environmental Protection Agency (EPA) Friday asking regulators to require crypto miners to report information about emissions and energy use.

The legislators also published written responses from seven miners that they had reached out to requesting information about their energy use.

"None of the companies provided full and complete information in response to our questions," the letter to regulators said. In it, legislators asked the EPA and the DOE to "work together to require emissions and energy use reporting by cryptominers."

According to the information compiled by the lawmakers, those miners use a combined total of 1,045 megawatts and plan to increase the number by at least 2,399 megawatts "in the next few years." Congress members called these results "disturbing" and stated that miners accounted for a large and "rapidly growing" amount of carbon emissions.

However, they also said that "little is known about the full scope of cryptomining activity."

"(It's) imperative that your agencies work together to address the lack of information about cryptomining’s energy use and environmental impacts, and use all available authorities at your disposal, such as Section 114 of the Clean Air Act," they wrote.

Authority to regulate

In the letter, Congress members asked regulators for clarification on whether they actually have the authority to require that type of disclosure from crypto miners.

The reach that regulators can have in such matters has been put into question recently, following a Supreme Court decision at the end of June to limit the Environmental Protection Agency’s (EPA) authority to regulate greenhouse gas emissions from power plants.

Huffman told The Block that nothing in the Supreme Court's decision touched on the agency's authority to investigate, under section 114 of the Clean Air Act. Therefore, he believes it would not impact the EPA's ability to act in this particular case.

"I would hope that they would choose to go further than just an investigation," he said. "I would hope that they would choose to try to set some standards and exercise their authority to address those impacts. The Supreme Court decision did not take away all their authority, but it constrained how they exercised in certain cases that have a broad national economic impact."

Going forward, agencies might face resistance from the courts when using old laws to regulate new industries such as bitcoin mining or crypto in general.

“It's going to put more on Congress's shoulders to regulate, to issue new statutory provisions,” Kevin Minoli, former counsel for the EPA and a laser at Alston & Bird, told The Block.

Essentially, the court found that under a heightened standard of review called the major questions doctrine there wasn't a clear statement of congressional authority in the Clean Air Act for the EPA to adopt the type of regulation in that case. Typically, agencies have been subjected to the more permissive Chevron doctrine, which states that as long as regulations don’t conflict with the language of a statute, then agencies can fill in any gaps.

It’s unlikely that this decision will have a significant and immediate impact on already existing regulations, Minoli argued. However, that’s not to say that people won’t try to challenge them using this case as support.

“The question is when will the courts be able to apply that standard and when will they not,” Minoli said. “The court will look for is: ‘was there a clear expression of congressional authorization for the regulation that was adopted?’”

For example, regulations concerning taxes would likely be upheld, regardless of how old the statutes they rely on are.

“It's not a new authority,” Minoli said. “There's nothing different about what the government is doing except for applying the same thing, the same way to just a new company."

Courts would likely apply a heightened review standard when agencies use a long-existing statute to address a new problem.

“It may be that if agencies are using or old statutes to try to address the new challenges of blockchain, that could be a scenario under which a court says ‘wait a minute, you've found authority in something that as long ago no one thought that authority existed,” he said said.

In the pipeline

On March 9, President Biden signed an executive order that included the EPA in the list of governmental agencies that were tasked with looking at the potential risks and benefits of crypto and coming up with a report within 180 days.

Specifically, it asked agencies to study the potential for crypto to “impede or advance efforts to tackle climate change at home and abroad.”

While this was only a first step, Minoli indicated that any regulatory framework that results from it down the line could possibly be subjected to the major question doctrine.

“If the EPA, under that executive order did the analysis and then wrote a regulation that found authority to regulate blockchain (under a) statute that's been in existence for 35 years the court may say ‘before we agree that the EPA has the broad authority to be the financial regulator of this currency, we're going to have expected Congress to give them that authority clearly.'"

In other words, the EPA could need Congress to enact new legislation for that specific purpose.

Still, Huffman argued that the decision would not have that much impact in the EPA's ability to regulate bitcoin mining.

"It only involves the major questions doctrine when it is a regulation that has economy-wide impacts," he said. "It's hard to imagine that some basic standards that might be applied to crypto mining would rise to the level of major questions."

Where it will have an impact, he said, is on the EPA and other agencies' power to pass regulations that address the climate crisis in broad sweeps.

"The Supreme Court has said that if you want to try to reform an entire sector of the economy, you're going to need a specific directive from Congress," Huffman said. "I think many of us have just wanted to make sure the EPA is looking into (bitcoin mining) and is doing the oversight and contemplating rules and standards that might be appropriate. And I think all of that continues to be available to the EPA right now, notwithstanding the Supreme Court decision."

Following the executive order, over 20 House Democrats sent a letter to the EPA calling for increased oversight of proof-of-work mining in April.

The group of legislators, led by Huffman, asked the agency to investigate possible negative consequences of this type of crypto mining, such as noise pollution, electronic waste from hardware replacement, greenhouse gas emissions and the reopening of former gas and coal plants to power mining operations.

The White House Office of Science and Technology Policy (OSTP) is also expected to publish a report on cryptocurrency mining and its environmental impact in August.

“It’s important, if this is going to be part of our financial system in any meaningful way, that it’s developed responsibly and minimizes total emissions,” Costa Samaras, principal assistant director for OSTP's energy division, told Bloomberg Law.

Assemblywoman Anna Kelles, who has been the sponsor and a strong supporter of a proof-of-work mining moratorium bill passed by the New York legislature that would essentially target fossil-fuel power plants, said that the Supreme Court's decision could leave a lot of the regulatory process up the states.

"With this EPA regulatory ability removed there are no guardrails on how large or how polluting any individual power plant can be if a state chooses not to set any parameters," Kelles told The Block over email.

Coinciding with the day that the decision came out, New York regulators denied bitcoin miner Greenidge an air permit for its natural gas plant. The Department of Environmental Conservation argued that Greenidge's application didn't comply with the greenhouse gas emissions limits set by the state's Climate Leadership and Community Protection Act.

New York Governor Kathy Hochul also recently commented on the decision while signing legislation regarding greenhouse gas emissions.

"Here in New York we are not letting the Supreme Court block our goals or our bold ambition for our state," she said.

https://www.theblock.co/post/157860/house-senate-democrats-push-regulators-to-demand-data-from-bitcoin-miners

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Interview With Ken “KC” Chapman Head Of XDC Institutional 👀
00:30:16
👀 Something Historic Just Happened In Colombia

Something historic just happened in Colombia.
An object was recovered, a metallic sphere that defies explanation.

Now it’s the center of an international investigation involving U.S. congressmen, physicists, and Dr. Steven Greer.

The object, called the Buga Sphere, was discovered by a local metal detectorist, Don José.

👉 At first, it weighed 2kg, then 6kg and then 10kg.

The same object, no external changes and weight fluctuations recorded live.

What kind of material behaves like this?

The sphere doesn’t emit radiation, but it does mess with electronics.

People near it reported metallic taste, nausea, and phones going haywire. David Vélez wore an anti-static suit just to touch it.

Not exactly your average scrap metal.

A second sphere showed up in Jumbo, caught on camera by a separate witness.

Same shape, movement, and equatorial line.
Italy’s top UAP analysts reviewed the footage.
The metadata was untouched, it wasn't CGI, it’s real.

Inside the Buga Sphere scientists discovered:

🔹Fused polymers
🔹Optical ...

00:03:33
"The World Order That We Are Coming Into"

If XRP is the neutral bridge for all sovereign currencies, stablecoins, and tokenized assets, then it’s not just facilitating payments, it’s capturing all that value at every level. From smart contracts to tokenized treasuries and digitized assets, XRP forms the foundation and backbone for everything in between.

With cross-border payments representing a multi-trillion-dollar corridor, that’s where the largest capital will flow and the greatest returns will come from.

At this point, you’re the gatekeeper to the digital economy. Everything else follows or fades away once regulations take effect.

You either see it or you won’t until it’s too late.

~The Black Swan Capitalist

00:01:50
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading
NEW "Talking Head" On THETA EDGECLOUD 🚀

Just launched on @Theta_Network EdgeCloud: "Talking Head" now available via On-Demand Model APIs! Upload a portrait + voice clip → get a lifelike "talking head" video in seconds. Perfect for avatars, dubbing, or content creation. Experience now: https://www.thetaedgecloud.com/dashboard/ai/service/on-demand-model-apis

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🚨 “Blockchain chose me.” – @KenChapman, Head of U.S. XDC Network 🇺🇸

From the @USArmy to leading tokenization at @WellsFargo, Ken breaks down how $XDC could capture a chunk of the $30T RWA market.💥

Watch the full interview here:

🚀 XRP: The Emerging Backbone for Islamic-Compliant Fintech in the UAE 🚀

The United Arab Emirates is rapidly establishing itself as a global leader in both Islamic finance and digital innovation, and Ripple’s XRP is at the center of this transformation. Here’s why XRP is becoming the digital backbone for Islamic-compliant fintech in the region:

🔹 Shariah Compliance: XRP avoids interest (riba) and excessive speculation (gharar), making it widely considered halal by Islamic scholars. Its consensus protocol is energy-efficient and doesn’t rely on mining, aligning with ethical investment values.

🔹 Regulatory Milestone: Ripple holds a license from the Dubai Financial Services Authority (DFSA), allowing it to offer regulated crypto payment services within the Dubai International Finance Centre. This has enabled partnerships with major UAE players like Zand Bank (the country’s first all-digital bank) and fintech firm Mamo.

🔹 Real-World Adoption: Zand Bank and Mamo are integrating Ripple’s blockchain infrastructure to deliver faster, cheaper, and more ...

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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem Post reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

During the 2022 "Woman, Life, Freedom" protests, Starlink enabled Iranians to communicate and share footage globally despite network blackouts," she added.

MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,” he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch, called on military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social media post of forcing Iranians into an unwanted war.

Starlink has been a beacon in other crises. Beyond Iran, Musk has leveraged Starlink to assist people during natural disasters and conflicts.

In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action, reposting a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

"God bless you, Elon. The Starlink beams are on in Iran!" Levin wrote.

Musk, who recently stepped down from leading the DOGE in the Trump administration, has apologized to President Trump for past criticisms, including his stance on the One Big Beautiful Bill.

Source

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Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

“Critical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).”

The National Conference of State Legislatures expressed similar concerns in early June, stating:

“We urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.”

Evolution of nationwide authorization

Section 16 addresses several issues beyond stablecoins, including preventing a recurrence of the SEC’s SAB 121, which forced crypto assets held in custody onto balance sheets. However, the nationwide authorization subsection was added after the legislation cleared the Senate Banking Committee, with two significant modifications since then.

Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

However, the House STABLE Act takes a more permissive approach, allowing regulators to decide which non-stablecoin activities are permitted. If the House version prevails in reconciliation, it could result in a significant expansion of allowed nationwide banking activities beyond stablecoins.

Is it that bad?

As originally drafted, the clause seemed overly permissive.

The amended clause makes sense for stablecoin issuers. They want to have a single regulator and be able to provide the stablecoin services throughout the United States. But it also leans into the perception outside of crypto that this is just another form of regulatory arbitrage.

The controversy over Section 16(d) reflects concerns about creating a regulatory gap that allows banks to operate interstate without the oversight typically required from either federal or state authorities. As the two Congressional chambers work toward reconciliation, lawmakers must decide whether stablecoin legislation should include provisions that effectively reduce traditional banking oversight requirements.

Source

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If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

“RWA issuance is no longer theoretical. It’s now a regulatory reality.”

VARA defined:

- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

 

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