US Senator launches FLARE bill to support the development of Bitcoin mining industry "
On April 2, U.S. Senator Ted Cruz recently announced the launch of the "Promotion of Lower Atmospheric Emissions Utilization (FLARE) Act", a federal proposal that aims to convert wasted energy into effective utilization through targeted tax reforms. The federal bill seeks to: amend the 1986 Internal Revenue Code to provide for permanent full costing of property used to capture natural gas that would otherwise be burned or emitted and use it in value-added products. Cruz described the move as a strategic step to leverage the state's rich energy supply and strengthen its leadership in digital assets. The congressman said: "I am committed to making Texas the first choice for Bitcoin mining. The FLARE Act encourages entrepreneurs and cryptocurrency miners to take advantage of natural gas that would otherwise be stranded."
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