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Republican Rep. Tom Emmer calls government agency's investigation of Bitcoin miners 'an abuse of power'

Republican Rep. Tom Emmer calls government agency's investigation of Bitcoin miners 'an abuse of power'

CointimeCointime2024/02/24 09:33
By:Cointime

Congressman Tom Emmer, Republican representative from Minnesota, expressed dissatisfaction with the recent authorization by the US Office of Management and Budget (OMB) to collect data from US Bitcoin mining companies.

Emmer stated that after the government agency allowed the Energy Information Administration (EIA) - a statistical and analytical agency within the US Department of Energy - to investigate the power consumption of certain encrypted mining companies last month, he wanted answers from the OMB. Emmer expressed concerns about OMB's use of its emergency authorization power in a letter sent to OMB Director Shalanda Young this week, and stated that Bitcoin miners currently do not pose a threat to public safety.

"Bitcoin mining is not a threat to public safety. That's it," Emmer posted on X on Thursday. "OMB is abusing its emergency powers to attack Bitcoin miners, and this requires an explanation."

Emmer stated that the agency must demonstrate to OMB that "public harm is likely to occur", as well as other criteria. (The Block)

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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