Texas Blockchain Council v. Department of Energy - Climate Change Litigation (2024)

  • Texas Blockchain Council v. Department of Energy

    Docket number(s): 6:24-cv-00099

    Court/Admin Entity: W.D. Tex.

    Case Documents:
    Filing DateTypeFileAction TakenSummary
    03/01/2024Settlement AgreementDownloadNotice of agreement filed by the parties.One Week After Filing of Lawsuit, Department of Energy Agreed to Withdraw Emergency Request for Cryptocurrency Energy Information . On February 26, 2024, the Energy Information Administration (EIA) notified the Office of Management and Budget that it was immediately discontinuing the emergency collection of information and would instead proceed through the Paperwork Reduction Act’s notice-and-comment procedures. On March 1, the plaintiffs and defendants filed a notice memorializing an agreement that provides that EIA will destroy any information already received or received in the future pursuant to the emergency request. In addition, EIA will publish a new notice of proposed collection of information, and the plaintiffs and a proposed intervenor (Chamber of Digital Commerce) will withdraw the request for a preliminary injunction and not pursue further relief regarding the emergency collection request. The parties asked the court to stay and administratively close the case.
    02/27/2024Amicus BriefDownloadAmicus brief submitted by Sierra Club.
    02/23/2024OrderDownloadMotion for temporary restraining order granted.The court issued a temporary restraining order (TRO) barring the defendants from collecting data and directing the defendants to sequester and not share any data already received. The court found that the plaintiffs established that irreparable injury would result without a TRO based on their allegations of nonrecoverable costs of compliance, a credible threat of prosecution for failure to comply with the information collection request, and disclosure of proprietary information. The court also found that the plaintiffs were likely to be able to show that the defendants’ support for an emergency request fell “far short of justifying such an action” and that the balance of harms favored granting a TRO.
    02/22/2024ComplaintDownloadComplaint filed.A cryptocurrency industry group and a company that conducts bitcoin mining operations at a Texas facility filed a lawsuit in the federal district court for the Western District of Texas asserting that the Energy Information Administration (EIA) and the Office of Management and Budget violated the Paperwork Reduction Act and Administrative Procedure Act when EIA issued an information request for energy information from cryptocurrency mining companies. The plaintiffs alleged that EIA based its request for emergency approval of the information collection on a “facially absurd” contention that “public harm” would otherwise result due to potential strains on the electric grid that could result from increased energy consumption arising from mining activity and a “major cold snap.” The plaintiffs alleged that the emergency information collection request “was driven by forces outside of EIA”; they emphasized an excerpt from President Biden’s Executive Order 14067, “Ensuring Responsible Development of Digital Assets,” which expressed the U.S.’s interest in ensuring that digital asset technologies operate in a way that “reduces negative climate impacts and environmental pollution.” The complaint also cited concerns raised by certain senators and House of Representatives members regarding cryptocurrency’s impacts on climate change.
Texas Blockchain Council v. Department of Energy - Climate Change Litigation (2024)

FAQs

What is the Texas Blockchain Council lawsuit? ›

CASE SUMMARY

On behalf of the Texas Blockchain Council and Riot Platforms, Inc., NCLA persuaded the the Department of Energy (DOE) and Energy Information Administration (EIA) to end an attempt to force cryptocurrency mining companies to hand over sensitive information through a mandatory survey.

Is crypto trading legal in Texas? ›

Bitcoin transactions are gaining in popularity across the country, but especially in Texas. While the state does not recognize this virtual currency as legal tender, it does allow the use of it in exchange for goods and services provided.

How to sell crypto in Texas? ›

How to Sell on Symlix marketplace
  1. Sign Up. Signing up is quick and simple.
  2. Browse for offers. People around the world buy and sell crypto.
  3. Browse for swap offers. Use the filter to sort offers and find convenient ones.
  4. Swap. When you find an offer just click Swap.
  5. Open a trade. ...
  6. Get your. ...
  7. Get your coins.

What is the Cryptocurrency mining facilities survey? ›

The Cryptocurrency Mining Facilities Survey, Form EIA-862, uses facility-level reporting to provide a baseline snapshot of the cryptocurrency mining companies in the sample and their energy use, quantify the rate of change in cryptocurrency mining activity among the companies and their facilities, identify electricity ...

Is Blockchain Council reputable? ›

Blockchain Council is a legit platform founded by Toshendra Sharma and other blockchain professionals. The quality instructors and well-recognized certification offered by Blockchain Council make it legit.

How do I get my money back from blockchain? ›

On the web
  1. Login to your Exchange account via desktop web browser.
  2. Click Withdraw in the top right corner, select Crypto and choose the asset you'd like to withdraw.
  3. Next, type or paste the address to which you'd like to send funds to or select your Blockchain.com Wallet Account if you want to withdraw crypto there.
Mar 5, 2024

Is Texas crypto tax free? ›

If you sell a capital asset (like your crypto or your property) for more than what you paid to acquire it, there is a tax on the profit from the sale, known as capital gains tax. Texas does not have a state capital gains tax, but capital gains from your crypto are subject to the regular federal tax rates.

Can you buy a house in Texas with cryptocurrency? ›

A Texas startup is allowing people to buy real estate with cryptocurrency through its platform. MyEListing launched a website where people can use bitcoin or ether to buy Texas-based commercial and residential properties listed on the site.

Is Binance still banned in Texas? ›

In response, Binance and other investors opened Binance.US, a separate exchange designed to comply with all applicable US federal laws, which nonetheless is banned in six states: Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.

Can I sell my crypto and get cash? ›

Coinbase has an easy-to-use “buy/sell” button and you can choose which cryptocurrency you want to sell and the amount. You'll quickly exchange cryptocurrency into cash, which you can access from your cash balance in Coinbase. From there, you can transfer the money to your bank account if you wish.

Does Texas have Bitcoin ATMs? ›

Coinhub Bitcoin ATMs allow you to purchase bitcoin with cash and receive it instantly shortly after purchase at our Bitcoin ATM in Houston, Texas. Coinhub offers the easiest way to buy Bitcoin locally with cash.

How do I legally sell crypto? ›

Steps to Sell:
  1. Register and verify identity on the exchange.
  2. Deposit your cryptocurrency into the exchange wallet.
  3. Sell your cryptocurrency for the desired currency.
  4. Withdraw the funds to your bank account.

Does crypto mining really pay? ›

Bitcoin mining does pay, although amounts are smaller than you might hope because you have to join large mining pools to even have a chance to earn.

What is the most valuable crypto to mine? ›

Bitcoin is the largest crypto by market capitalization and the most popular cryptocurrency to mine, with a reward of 6.25 BTC per block - although this halved in April 2024. Due to competition, you'll need a top-of-the-line mining rig to mine Bitcoin successfully, as well as to join a mining pool.

How do crypto miners get money? ›

Key Takeaways. Bitcoin miners receive bitcoin as a reward for creating new blocks which are added to the blockchain. Mining rewards can be hard to come by due to the intense competition. The probability that a participant will discover the solution is related to the network's total mining capacity.

How does blockchain settlement work? ›

In cryptocurrency transactions, settlement signifies the moment when a transaction is irrevocably recorded on a blockchain, ensuring that the transfer of a digital asset or token from one party to another is complete.

Is blockchain a reputable company? ›

In the first six months of 2021, there were more than 320 complaints against Blockchain.com. Top issues include lost cryptocurrencies, poor customer service, and blocked access to accounts.

What is the big deal about blockchain? ›

By creating a record that can't be altered and is encrypted end-to-end, the blockchain helps prevent fraud and unauthorized activity. You can address privacy issues on the blockchain by anonymizing personal data and by using permissions to prevent access.

Is Walmart using blockchain? ›

In 2016, Walmart began the development of a solution for tracing grocery products using blockchain. Along with IBM, the company launched the Walmart Food Traceability Initiative. For that to function, suppliers had to include information about each purchase from farmers or manufacturers in the blockchain.

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