RiotPlatforms executives: OperationChokepoint2.0 affects the BTC Mining industry

Bitcoin mining company Riot Platforms’ public policy director Brian Morgenstern shared insights on how the Biden administration’s Operation Chokepoint 2.0 has spread to the BTC mining industry. Morgenstern stated that this has similar goals to the government’s efforts towards bank de-risking, aiming to ‘choke off’ the energy supply to miners. He also called for an immediate investigation into signs of government overreach. He added that the killing of the crypto mining industry began in 2022. At that time, the Biden administration issued a white paper on Central Bank Digital Currency (CBDC). The white paper proposed to restrict or eliminate BTC mining in the country, and specifically emphasized the Operation Chokepoint 2.0 strategy adopted by the Biden administration. This includes a 30% tax on the energy used by crypto mining companies in operation, and the government also required all BTC mining companies to undergo a comprehensive energy audit earlier this year. (CoinGape)