Summary
TLDR: The White House authorized an “emergency” survey of cryptocurrency miners, causing concern in the industry. After pushback and engagement with the Energy Information Administration, the survey was rescinded. This victory highlights the importance of unity and proactive engagement in facing regulatory challenges. The industry will continue to advocate for fair regulation and policies that support innovation.
Key Points
1. The White House authorized the Energy Information Administration (EIA) to conduct an “emergency” survey of cryptocurrency miners on Jan. 26, 2024, causing concern and backlash within the mining community.
2. The survey was perceived as overly intrusive and misrepresented the practices of cryptocurrency miners, leading to a pushback from industry stakeholders to ensure that data collection was reasonable and respectful of proprietary information.
3. The EIA ultimately rescinded the emergency approval for the survey, highlighting the importance of collective action in facing regulatory challenges and advocating for fair regulation in the cryptocurrency industry.