The Chamber of Digital Commerce, Texas Blockchain Council (TBC), and Bitcoin miners Riot Platforms filed a lawsuit. It challenges the recent efforts of the Biden-Harris Administration to collect comprehensive energy consumption data from the cryptocurrency mining industry.
It targets the US Department Of Energy (DOE), the US Energy Information Administration (EIA), and Office of Management and Budget (OMB).
The Energy Information Administration (EIA) got OMB approval for its emergency request to collect energy data from 82 Bitcoin miners. This includes Riot Platforms. Representative Tom Emmer supports it, calling it an “abuse of power” against crypto.
The plaintiffs criticize the government’s actions, alleging “sloppy process, contrived urgency, and invasive data collection.” Riot Platforms’ Head of Public Policy, Brian Morgenstern, stated, “Proud of our group for resisting illegal government overreach. Zealots staged a false emergency to release Bitcoin miners’ confidential information. To succeed, we must fight.”
US Bitcoin Miners Accuse of Playfulness
The complaint centers on overreach and procedural infractions. The plaintiffs argue that the DOE and EIA violated the Administrative Procedure Act and the Paperwork Reduction Act. They argue that the DOE and EIA violated laws by rushing survey approval without proper public notice or comment.
They argue cryptocurrency miners disclosing energy data lacks legal backing and could harm companies. legal details include:
Legal Procedure Violation: Claims that the emergency information collection request (ICR) approval process was arbitrary and illegal because the DOE and EIA did not follow the PRA’s public notice and comment requirements.
Insufficient Justification for Emergency Data Collection: The plaintiffs contest the DOE’s emergency data collection justification, claiming it does not adhere to set standards for such accelerated actions.
Concerns Regarding Confidential Information: It is claimed that the emergency ICR’s requirement for the disclosure of private company data will make Bitcoin miners less competitive.
The defendants failed to comply with the PRA’s guidelines by providing stakeholders with insufficient notice or opportunity to comment.
Request for Relief: To stop the emergency ICR from being enforced, the plaintiffs are asking for judicial relief, which may include an order to revoke the DOE’s emergency approval of their request.
This lawsuit represents a pivotal moment in the ongoing conversation between US regulatory agencies and the Bitcoin industry. Notably, it underscores the industry’s willingness to resort to legal action to protect its interests, underscoring its readiness.
BTC traded at $50,985 at the time of publication.
