A company that is changing the way the world mines bitcoin

CoinGape 2024-12-30 20:40:02

Riot Platforms Exec Reveals How Operation Chokepoint 2.0 Impacted Bitcoin Mining

Brian Morgenstern, a Riot Platforms Public Policy Executive has shared insights into how the Joe Biden administration’s Operation Chokepoint 2.0 spread to the Bitcoin mining industry. With the similar aims that the regime’s debanking efforts had, Morgenstern said the goal remains to “unplug” miners from the energy grid. The flag on this government overreach calls for immediate investigation according to Morgenstern. Operation Chokepoint 2.0 in Bitcoin Mining In an OpEd by Morgenstern and Sam Lyman, the chokehold in the mining industry started in 2022. They recalled that at the time, the Biden Aministration published a White paper on Central Bank Digital Currencies (CBDCs). The White paper proposed limiting or eliminating Bitcoin mining in the country. They both highlighted with specificity the Operation Chokepoint 2.0 strategy employed by the Biden White House. This include imposing a 30% tax on the energy that mining firms utilized in their operations. The authors also noted that the government demanded a comprehensive energy audit from all Bitcoin miners earlier this year. Rather than give in to the demand, these crypto mining firms sued and won the government for the regulatory overreach. They pointed out that these unplugging agenda was the governments’ way of controlling emerging economies. Meanwhile, many industry leaders have also attested to the Operation Chokepoint 2.0 manifestations in other areas beyond Bitcoin mining. Silvergate Bank’s former CTO Chris Lane has always shared his account of how Federal regulators fueled the collapse of the crypto friendly bank. Beyond speculations, recent Coinbase files revealed FDIC’s role in debanking crypto firms in the United States. This presented a clear evidence of the claims debanking claims of the regulator. Where to From Here? With the exposition of the subtle attack on Bitcoin mining by the Operation Chokepoint 2.0 agenda of this administration, lawmakers like Rep French Hill are calling for investigation into the chokepoint claims . Morgenstern and Lyam also echoed this sentiment, directly calling on swift action from the incoming Donald Trump administration. Trump’s appointed Crypto Czar David Sacks has also shared his take on investigating the Operation Chokepoint 2.0. With the mission spelt out, industry leaders including John Deaton are now skeptical on whether the administration can act fast before the Midterm elections which might change Congress’s majority. The midterm elections come quick. Let’s hope @realDonaldTrump @JDVance @elonmusk @VivekGRamaswamy @DavidSacks @BoHines @howardlutnick Scott Bessent and others make it happen within the first 2 years. https://t.co/I0mgXTB3na — John E Deaton (@JohnEDeaton1) December 30, 2024 The post Riot Platforms Exec Reveals How Operation Chokepoint 2.0 Impacted Bitcoin Mining appeared first on CoinGape .

Наиболее читаемые новости

Elon Musk announces change to X algorithm, fa...
2025-01-04
Crypto.com Offers Stock and ETF Trading in Se...
2025-01-04
Top 4 altcoins to consider buying now: Dogeco...
2025-01-04
Dogecoin Price Prediction: DOGE To Reach $5 T...
2025-01-04
From Crypto Gains to Timeless Treasures: Bitc...
2025-01-04
Solana Price Will Complete 1,800% Surge To $4...
2025-01-04
Traders Focus on BlockDAG’s 5-Tier Bonus as I...
2025-01-04
Shiba Inu Price Faces Resistance as Investors...
2025-01-04

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения