• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
  • Disclaimer
Saturday, February 24, 2024
CryptoBangs.com
Advertisement
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Altcoin
    • NFT News
  • DeFi
  • Blockchain
  • Regulation
  • Shop
  • Blog
  • Calculator
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Altcoin
    • NFT News
  • DeFi
  • Blockchain
  • Regulation
  • Shop
  • Blog
  • Calculator
No Result
View All Result
CryptoBangs.com
No Result
View All Result

US agencies pause Biden-sanctioned emergency miner survey following lawsuit

February 24, 2024
in Regulation
Reading Time: 2 mins read
A A
US agencies pause Biden-sanctioned emergency miner survey following lawsuit
ShareShareShareShareShare

The Energy Information Administration (EIA) paused the controversial survey of crypto mining firms on Feb. 23 following a lawsuit from members of the crypto mining sector.

Crypto mining company Riot Platforms and the Texas Blockchain Council launched the lawsuit on Feb. 22. The case names the EIA, the Department of Energy, the Office of Management and Budget (OMB), and the heads of those agencies as defendants.

The EIA confirmed that the survey has been paused in a statement:

“EIA will not enforce any requirement to file Form EIA-862 nor seek or impose any fines, penalties, or other adverse consequences based on a failure to respond to the survey through March 22, 2024.”

The agency will also sequester any data that it has collected and will refrain from using it until the same data, according to the current notice.

An entry in the case docket similarly confirms the survey pause, noting that the EIA will “take the survey down [and] there will be a notice stating there are [four] more weeks reprieve.”

Data collection concerns

Republican Congressman Tom Emmer recently raised concerns over the collection of data from crypto mining firms in a letter on Feb. 22.

He argued that the OMB could only grant the EIA’s information collection request without a comment period by demonstrating that mining is likely to cause public harm. He added:

“Bitcoin mining is not a threat to public safety. Period.”

Riot and the Texas Blockchain Council’s lawsuit relies on a similar argument, as one section of their complaint states that the emergency approval and supposed public harm are “facially absurd.”

The survey has been closely linked with the Biden administration and the Democratic party. One section of the lawsuit explicitly acknowledges this, noting that a September 2022 statement from the Biden Whitehouse specifically suggested targeting mining firms with energy limitation actions and laws.

The EIA, for its part, is concerned that Bitcoin mining could lead to increased energy consumption during high energy demand periods, including during cold weather.

The office originally aimed to collect data from 82 crypto-mining firms, and companies that did not comply could have faced $10,000 in daily fines until the survey period ended in July.


Credit: Source link

Related articles

Congressman Emmer raises concerns over Biden administration’s “information collection regime” targeting BTC miners

Congressman Emmer raises concerns over Biden administration’s “information collection regime” targeting BTC miners

February 22, 2024
South Africa advances financial inclusion with crypto and digital payment reforms

South Africa advances financial inclusion with crypto and digital payment reforms

February 22, 2024
ShareTweetSendPinShare
Previous Post

Shiba Inu (SHIB) Whale Transactions Up 450% as Activity Surges

Next Post

Ripple Could Hit $7 If XRP Does This: Analyst

Related Posts

Congressman Emmer raises concerns over Biden administration’s “information collection regime” targeting BTC miners

Congressman Emmer raises concerns over Biden administration’s “information collection regime” targeting BTC miners

February 22, 2024

House Majority Whip Tom Emmer warned on Feb. 22 that government agencies under the Biden administration are beginning to collect...

South Africa advances financial inclusion with crypto and digital payment reforms

South Africa advances financial inclusion with crypto and digital payment reforms

February 22, 2024

South Africa announced plans to weave digital payments and crypto into its financial fabric to boost the economy for marginalized...

‘Dead cat bouncing’ – ECB officials attack Bitcoin with call of ‘practically forbidding it’

‘Dead cat bouncing’ – ECB officials attack Bitcoin with call of ‘practically forbidding it’

February 22, 2024

European Central Bank (ECB) officials stand firm on their assessment that Bitcoin holds no inherent value, despite its recent surge...

ECB officials attack Bitcoin with call of ‘practically forbidding it’

ECB officials attack Bitcoin with call of ‘practically forbidding it’

February 22, 2024

European Central Bank (ECB) officials stand firm on their assessment that Bitcoin holds no inherent value, despite its recent surge...

Nigerians turn to VPN as government blocks access to Binance, Coinbase, others

Nigerians turn to VPN as government blocks access to Binance, Coinbase, others

February 22, 2024

Binance has acknowledged reports of Nigerian users encountering difficulties accessing its official website following the government’s directive to block prominent...

Load More
Next Post
Ripple Could Hit $7 If XRP Does This: Analyst

Ripple Could Hit $7 If XRP Does This: Analyst

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mystery Ethereum whale accumulates $411 million ETH in February amid ETF rumors

Mystery Ethereum whale accumulates $411 million ETH in February amid ETF rumors

February 23, 2024
STRK Token Sees Burgeoning Activity After Airdrop For The Ages

STRK Token Sees Burgeoning Activity After Airdrop For The Ages

February 21, 2024
Leading US Exchange May Add VeChain VET Amid User Interest

Leading US Exchange May Add VeChain VET Amid User Interest

February 21, 2024
Japan greenlights bill allowing investment firms to hold crypto

Japan greenlights bill allowing investment firms to hold crypto

February 19, 2024
Arbitrum In Freefall, Dips Below $2 As Experts Analyze Recovery

Arbitrum In Freefall, Dips Below $2 As Experts Analyze Recovery

February 23, 2024
CryptoBangs.com

CryptoBangs.com is an online news portal that aims to share the latest crypto news, bitcoin, altcoin, blockchain, nft news and much more stuff like that.

What’s New Here!

  • How To Be a Millionaire if XRP Reclaims $3.40 Peak?
  • The Great Dogecoin Mystery: 400 Million Tokens Dissapear
  • Could It Hit $6 Trillion Market Cap?
  • Ripple Could Hit $7 If XRP Does This: Analyst

Newsletter

Don't miss a beat and stay up to date with our Newsletter!
Loading

  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
  • Disclaimer

© 2023 - CryptoBangs.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Altcoin
    • NFT News
  • DeFi
  • Blockchain
  • Regulation
  • Shop
  • Blog
  • Calculator

© 2018 JNews by Jegtheme.

You have not selected any currencies to display
WP Twitter Auto Publish Powered By : XYZScripts.com