Blockchain
Texas Blockchain Council and Riot Platforms sue US federal agencies over crypto energy scrutiny
Texas Blockchain Council (TBC) and Riot Platforms have initiated a lawsuit against the U.S. Department of Energy (DOE), its Energy and Information Administration (EIA), and the U.S. Office of Management and Budget (OMB).
The legal challenge, filed in the U.S. District Court for the Western District of Texas on Feb. 22, marks a significant pushback against what the plaintiffs consider to be unwarranted regulatory scrutiny from the Biden Administration towards the cryptocurrency sector, particularly concerning energy consumption.
The core of the lawsuit alleges that the EIA’s emergency collection of information from various TBC members, including Riot Platforms, contravenes legal standards. The plaintiffs argue that these actions breach the Paperwork Reduction Act and its regulations, accusing the EIA and OMB of acting without due process, akin to accusations previously leveled at the SEC for similar regulatory actions.
The filing sharply criticizes the government’s methodology, framing it as a blend of “sloppy government process” and “invasive government data collection” without proper justification or procedural adherence.
This legal action stems from an announcement by the EIA last month, declaring its intent to gather data on electricity consumption from select U.S.-based crypto-mining operations starting in early February. This move followed a rapid approval by the OMB of an emergency data collection request on Jan. 26, compelling commercial miners to disclose their energy usage details.
The TBC has voiced concerns over the request for detailed operational information, such as the types of machines used and the locations of mining facilities. There is apprehension that making such information public could expose the industry to further scrutiny and potential targeting, a fear that is underpinned by previous statements from The White House.
Describing the government’s initiative as a “direct assault on private businesses,” TBC and its allies are seeking legal remedies to prevent the DOE and EIA from proceeding with data collection from identified commercial cryptocurrency miners. They also aim to annul the OMB’s approval of the data collection effort, arguing for a halt to any data gathering without proper notice and a chance for public comment.
Following the OMB’s swift approval of the EIA’s request for energy usage data from 82 Bitcoin mining operations, the EIA reported a significant increase in the annual electricity consumption by crypto miners, from 0.6% to 2.3% of total usage. This has led to a declaration from the EIA of its intent to monitor and potentially regulate energy usage associated with mining operations.
Lee Bratcher, President of the TBC, voiced strong opposition to the government’s oversight efforts, suggesting that the motivation behind the survey is not grid stability but a politically driven campaign against the cryptocurrency sector.
The lawsuit represents a broader pattern of resistance within the crypto industry against perceived regulatory overreach. Notable figures such as House Majority Whip Tom Emmer have publicly criticized the Biden administration’s stance towards Bitcoin mining and the broader cryptocurrency industry, accusing it of abusing its power.
Additionally, recent legal actions, such as those by Texas-based Lejilex and the Crypto Freedom Alliance of Texas (CFAT) against the SEC, highlight the growing discontent within the industry towards regulatory pressures.
Source: Crypto News
The post Texas Blockchain Council and Riot Platforms sue US federal agencies over crypto energy scrutiny appeared first on HIPTHER Alerts.
Blockchain
Top 10 Sessions You Can’t Miss at MARE BALTICUM Gaming & TECH Summit 2024 (Tallinn, Estonia, 4-5 June)
As the MARE BALTICUM Gaming & TECH Summit 2024 approaches, set to take place in Tallinn, Estonia on June 4-5, attendees are gearing up for an event packed with insightful discussions and transformative networking opportunities. This summit has carved out a niche as a crucial gathering for industry leaders, offering a window into the future of igaming and tech in the Baltic region and beyond. Here’s your guide to the top 10 sessions you shouldn’t miss:
1. Regulatory Evolution in iGaming: Adapting to the Baltic Standards
Dive into the complexities of iGaming regulations in the Baltics with insights from Kaido Ulejev of Betsson Group, Henrik Mägi from the Estonian Ministry of Finance, and others. This panel offers perspectives from both operators and regulators, providing a 360-degree view on adapting to local standards.
2. Global Stakes: Navigating iGaming Regulation in Serbia, the USA, Spain, and Austria
Explore the varied regulatory landscapes of these diverse markets with experts like Dr. Arthur Stadler and William J. Pascrell, III, who will shed light on the unique challenges and opportunities in their respective regions.
3. Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations
This session will address how traditional financial systems are being transformed by groundbreaking fintech and blockchain technologies, revolutionizing everything from payments to player verification processes.
4. IMGL Masterclass – Navigating MiCA, EU AI Act, and DSA in the Digital Age
An in-depth masterclass discussing the impact of significant EU regulations like the Markets in Crypto-Assets Regulation (MiCA), the AI Act, and the Digital Services Act (DSA) on the igaming and tech industries.
5. Regulatory Evolution in iGaming: Adapting to the Nordic Standards
Similar to its Baltic counterpart, this panel focuses on the Nordic countries, offering insights into their unique regulatory frameworks and how companies can successfully navigate them.
6. eSports Dynamics: Overcoming Regional Barriers & Seizing Growth
Unpack the potential of the eSports sector as it expands globally, breaking down regional barriers and leveraging growth opportunities in untapped markets.
7. Future-Proofing Digital Engagement: Mastering Gamification, Mobile Innovation, and Regulatory Compliance in the AI Era
Learn how to integrate the latest digital innovations effectively while complying with evolving regulatory standards—a key to staying ahead in the competitive market.
8. Make search engine bots love your affiliate website!
A practical session on optimizing affiliate websites for better search engine visibility, crucial for driving traffic and increasing engagement.
9. The Baltic States’ Integration of Blockchain and Web3 Across Industries
Discover how the Baltic states are leading the way in adopting blockchain and Web3 technologies across various industries, not just igaming and tech.
10. Gaming & TECH Marketing: PeopleTech Synergies between Affiliation, PR, SEO, and Neuromarketing
This session explores the convergence of different marketing domains, providing a holistic approach to promoting igaming and tech ventures effectively.
Special Workshop: Navigating New Frontiers: Baltic Compliance in Web3, Fintech, and Blockchain
Hosted by notable experts including Anna Agu, this workshop will delve into the regulatory frameworks shaping the future of Web3, fintech, and blockchain in the Baltic region.
With such a packed agenda, the MARE BALTICUM Gaming & TECH Summit 2024 promises to be an enriching experience that will equip attendees with the knowledge and strategies needed to navigate the complexities of the igaming and tech industries.
Be sure to secure your seat soon as the final spots are filling up. Register here!
For more information on the full agenda follow this link.
Don’t miss out on this opportunity to be part of these crucial conversations in one of the industry’s most insightful gatherings in the beautiful city of Tallinn!
The post Top 10 Sessions You Can’t Miss at MARE BALTICUM Gaming & TECH Summit 2024 (Tallinn, Estonia, 4-5 June) appeared first on HIPTHER Alerts.
WadzPay, a leading fintech company specialising in blockchain based technology for virtual asset payment solutions, is proud to announce its plan to enter the Stablecoin business, marking a significant expansion of its offerings. With a steadfast commitment to innovation and addressing evolving market demands, the company has strategically positioned itself to capitalise on the growing opportunities within the virtual asset financial services space.
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