Brian Morgenstern, head of public policy at bitcoin mining company Riot Platforms, shared insights on how the Biden administration's Operation Chokepoint 2.0 has spread to the bitcoin mining industry. Morgenstern said this has a similar goal to the government's debanking efforts, which is to "cut off" miners' energy supply. He also said that an immediate investigation is needed for signs of government overreach.
He added that the stranglehold on crypto mining began in 2022. At that time, the Biden administration released a white paper on central bank digital currencies (CBDCs). The white paper proposed restricting or eliminating bitcoin mining in the country and specifically highlighted the Operation Chokepoint 2.0 strategy adopted by the Biden administration. This includes a 30% tax on energy used by crypto miners in their operations, in addition to the government's requirement for all bitcoin miners to undergo a comprehensive energy audit earlier this year. (CoinGape)