Victory for Cryptocurrency Mining Sector in the US
Great news for the cryptocurrency mining sector as it achieves a significant victory in its ongoing dialogue with U.S. regulatory bodies.
Chamber of Digital Commerce: Shaping the Future
The Chamber of Digital Commerce is a trade association in the United States that promotes the interests and development of the blockchain and digital asset industries. It aims to foster innovation and growth in blockchain technology by engaging with policymakers, regulators, and industry stakeholders.
- Advocates for regulatory clarity and a supportive legal framework
- balancing risk management with benefits of digital assets and blockchain technologies
- Works to bridge the gap between the digital currency industry and traditional regulatory landscapes
- ensuring transformative potential while addressing concerns related to security, compliance, and consumer protection
- Represents a wide array of interests within the blockchain ecosystem
EIA Withdraws Survey for Cryptocurrency Miners
The U.S. Energy Information Administration (EIA) has withdrawn its emergency survey directed at cryptocurrency miners following efforts by the Chamber of Digital Commerce, The Texas Blockchain Council, and Riot Platforms. This comes after the successful acquisition of a Temporary Restraining Order (TRO) against the survey.
- Resolution establishes a precedent for future engagements between cryptocurrency miners and the EIA
- EIA must adhere to legally mandated notice and comment procedure for future surveys
- Appreciation expressed to the Texas Blockchain Council, Riot Platforms, and legal teams for their efforts
- Survey initially issued under an ’emergency’ justification by the EIA on January 31, 2024
Legal Action Secures Victory for Cryptocurrency Miners
The initial resistance to the EIA’s survey by the Chamber of Digital Commerce led to a legal challenge by The Texas Blockchain Council and Riot Platforms, resulting in a Temporary Restraining Order (TRO) and the EIA withdrawing the survey. This victory ensures transparency and public input for any future survey initiatives.
Hot Take: Embracing Collaborative Success
Congratulations on a crucial win for the cryptocurrency mining sector! Through collaborative efforts, the Chamber of Digital Commerce, alongside other key players, has shaped a more transparent and inclusive regulatory landscape for the industry. This victory sets a precedent for future engagements with regulatory bodies, emphasizing the importance of cooperation and legal clarity in advancing the interests of the blockchain and digital asset industries.
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