Senator Ted Cruz has emerged as an unexpected champion for crypto in the upper chamber. He advocates praiseworthy legislative proposals that advance the industry and address climate change. His efforts recently came full circle when President Trump signed the Fueling Long-Term Adoption of Renewable Energy (FLARE) Act into law. This landmark bill, spearheaded by Cruz, seeks to repurpose flared gas from oil and gas operations for Bitcoin mining and other energy-intensive applications. The FLARE Act marks the first cryptocurrency-focused bill to be enacted, signaling a potential shift in the regulatory landscape for digital assets.
The FLARE Act addresses the persistent issue of flared gas, a byproduct of oil and gas extraction often burned off due to lack of infrastructure for transport. Cruz’s legislation would allow for this wasted resource to be captured and used to power new on-site Bitcoin mining operations. This groundbreaking move is a powerful step toward addressing the pollution caused by the oil and gas industry. It drives innovation in energy use by creating a new market for gas that would have otherwise been wasted.
The FLARE Act would take big steps in that direction, and Cruz is passionate about it. He argues that enacting this legislation is necessary for maintaining America’s leadership in the burgeoning cryptocurrency space. He focused on the bill’s potential to significantly reduce emissions, increase energy innovation, and improve the resilience of our electric grid. Cruz highlighted the opportunity to harness Texas’s abundant energy resources. This makes the state an emerging leader in the wider cryptocurrency mining industry and technological innovation at large.
The August 14th signing ceremony, attended by Senator Cruz himself, highlighted the overwhelming bipartisan support the FLARE Act received. The bill passed the Senate with a resounding 70–28 vote, demonstrating a broad consensus on the need to foster responsible cryptocurrency development and energy innovation. This bipartisan support symbolizes the developing understanding of how beneficial it could be to implement digital assets into the larger economy.
Here are some other examples, except the FLARE Act, where Cruz has taken the lead in stopping regulators from putting crypto under their thumb. He scored a high-profile success leading the charge against a Biden-era resolution he said would have jeopardized American leadership in cryptocurrency. President Trump signed Cruz’s resolution into law, successfully preventing the controversial regulation from being implemented.
Under Cruz’s proposed legislation, repurposing flared gas would produce ‘value-added products’, like Bitcoin and other potential digital assets. Through this effort, the state will take a waste product and turn it into a useful resource, fostering both cleaner air and a stronger economy. The bill makes it more profitable to burn off excess gas, known as flaring, to mine cryptocurrency. This ensures there’s a win-win for the energy industry and the digital asset sector.
Cruz has consistently argued that embracing cryptocurrency and fostering innovation in the digital asset space is essential for maintaining America's competitive edge in the global economy. He sees cryptocurrency as a transformational technology that’s going to upend finance and commerce, and so many other domains.
His efforts to promote cryptocurrency go well beyond legislative initiatives. Cruz has actively engaged with industry stakeholders, participated in conferences, and used his platform to advocate for policies that encourage responsible innovation and growth in the digital asset space. He has become a prominent voice in the ongoing debate about the future of cryptocurrency regulation, advocating for a balanced approach that protects consumers while fostering innovation.
