0

    Texas Blockchain Council and Riot secure win against US energy officials

    2024.02.25 | exchangesranking | 90onlookers
    b98df8a0>

    The Texas Blockchain Council (TBC) and Bitcoin mining firm Riot Platforms have won a favorable ruling from a United States District Judge in a lawsuit against several United States energy officials.

    On February 22, Cointelegraph reported that the TBC and Riot alleged the U.S. Department of Energy, Energy Information Administration (EIA), Office of Management and Budget (OMB) and their leadership sought an “invasive” data collection from cryptocurrency miners.

    According to a February 23 filing in the United States District Court for the Western District of Texas, the TBC and Riot convinced the judge that irreversible harm would happen without a temporary restraining order (TRO) against further data collection.

    As a result, the court enforced a TRO which prohibits the EIA from requiring crypto miners to respond to the survey, as well as prohibiting the EIA from sharing any data that has already been received from the survey.

    “The Court finds that Plaintiffs have shown through a verified complaint and supporting evidence that immediate and irreparable injury, loss, or damage will result if a TRO is not issued.”

    The TBC and Riot argued that the potential damages include non recoverable costs of compliance with the survey, a credible threat of prosecution if they do not comply, and the disclosure of proprietary information requested.

    Additionally, there was disagreement over the duration of the survey for miners to complete, with no compensation.

    Although the EIA estimated a completion time of approximately 30 minutes, the court deemed this estimation "extremely inaccurate."

    Related: Bitcoin halving ‘blood bath’ could push US miners offshore

    Meanwhile, the TBC and Riot also challenged the estimate, stating that the cost of compliance so far has been over 40 hours.

    Based on the evidence provided, the court deemed that TBC and Riot are likely to win the lawsuit. Additionally, it alleged that the EIA misused its authority to have the emergency survey approved, a move the court deemed "falls far short of justifying such an action."

    “Plaintiffs also demonstrate that they are likely to succeed on the merits. The survey was proposed and approved under an emergency provision of the PRA," the filing noted.

    It was further stated that the TRO will lapse prior to March 25, with its objective for the 4-week period to "preserve the status quo."

    Magazine: The DeFi bots pumping Solana’s stablecoin volume

    The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other ssues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.