Crypto Miners Score a Major Victory in Court
In a recent legal development, the Texas Blockchain Council (TBC) and Riot Platforms, a Bitcoin mining entity, have secured a favorable ruling from a U.S. District judge against certain energy authorities.
This ruling stems from allegations by TBC and Riot that government agencies were overstepping by demanding extensive data from cryptocurrency miners.
The court has granted a temporary restraining order (TRO), halting further data collection efforts by the Energy Information Administration (EIA) and prohibiting the sharing of any previously collected data.
Temporary restraining order granted pic.twitter.com/LzYVycdEWK
— Pierre Rochard (@BitcoinPierre) February 24, 2024
TBC and Riot argued that compliance with the survey would result in significant costs, potential legal ramifications, and the exposure of sensitive business information.
Disagreements also arose over the survey’s duration and compensation terms. The court found the estimated completion time for the survey to be highly inaccurate and acknowledged TBC and Riot’s claims of substantial time already spent on compliance.
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Additionally, the court indicated a likelihood of TBC and Riot prevailing in the lawsuit, criticizing the EIA’s handling of the survey approval process.
The TRO is set to remain in effect until March 25, with its aim being to maintain the current situation pending further legal proceedings.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
