House Majority Whip Tom Emmer warned on Feb. 22 that government agencies under the Biden administration are beginning to collect data on Bitcoin mining firms.

In a letter to the Office of Management and Budget (OMB), Emmer acknowledged that the OMB approved and expedited a request from the Energy Information Administration (EIA) that imposes a “new, mandatory information collection regime” on the Bitcoin mining industry.

The fact that the OMB approved the information collection request without a comment period means that the agency must prove that there is likely public harm, Emmer noted.

Emmer denied that any such harm exists. In an X statement, he wrote:

“Bitcoin mining is not a threat to public safety. Period. The [Office of Management and Budget’s] abuse of its emergency powers to attack Bitcoin miners demands an explanation.”

He further defended Bitcoin in the text of his letter, writing that Bitcoin mining firms “play an integral role in the Bitcoin network.” He added that the open and permissionless nature of Bitcoin’s technology “embodies American values” and urged for a politically neutral policy.

Emmer linked the information collection policy to US President Joe Biden’s leadership, arguing that the OMB and EIA are “enforcing the Biden administration’s regressive policy position against energy consumption” and applying it discriminately to the crypto industry.

The Biden administration more broadly introduced energy policies in its Inflation Reduction Act in August 2022.

Consumption concerns unwarranted

According to Emmer, the EIA is concerned about the possibility that Bitcoin mining will increase amid rising prices, which could lead to greater energy consumption. The office is also concerned about high energy consumption during a “major cold snap.”

However, the Congressman believes this is not a legitimate concern because mining activity can adjusted during peak hours and changing weather conditions.

Emmer added that the EIA aims to collect a large variety of data from 82 crypto-mining firms. He suggested that the survey’s broadness is an attempt to impose Scope 3 climate policies — a category that includes energy data beyond a company’s own operations.

Emmer compared the current survey efforts to the US SEC’s poorly received attempts to collect similar information.

In a separate interview with FOX Business, Emmer highlighted that companies that do not comply with the request face criminal and civil penalties, including daily fines of up to $10,000. Firms must provide information on a monthly basis until the end of the survey period in July.

A public statement from the EIA on Jan. 31 indicates that it began a survey of various crypto-mining companies in early February following the OMB’s emergency approval.

Pro-crypto Congressman Tom Emmer is advancing an amendment aimed at depriving the United States securities regulator from using government funds to go after crypto enforcement.

On Nov. 8, Emmer attached an amendment to HR 4664 — the Financial Services and General Government Appropriations Act, or federal budget.

The amendment, which has passed unopposed, prohibits the Securities and Exchange Commission from using funds for enforcement activities related to digital asset transactions until Congress passes future legislation granting the agency jurisdiction to do so.

My amendment prohibits the SEC from using taxpayer-funded resources to pursue enforcement actions against the digital asset industry until Congress passes legislation that authorizes regulatory enforcement jurisdiction.

— Tom Emmer (@GOPMajorityWhip) November 8, 2023

While the amendment has advanced, the House’s budget where it’s included will need to still face a reconciliation committee before it’s passed.

In a Nov. 8 statement, Emmer suggested the Department of Justice, the Treasury and the Treasury’s Office of Foreign Asset Control can handle “future bad actors like FTX.”

“SEC Chair Gensler cannot continue to abuse the powers of his agency to fulfill a political agenda of driving the new and promising digital asset industry offshore.”

Republican lawmakers are trying to reduce funding across all federal agencies.

On Nov. 7, Representative Tim Burchett took a swing at Gensler and others by proposing an amendment that would reduce the SEC chairman’s salary to $1. Burchett also proposed cutting the salaries of other officials who have drawn the GOP’s ire.

House Republicans are set once again to crank up their “Holman Rule” machine, this time on Financial Services Approps/HR 4664 – to reduce to $1 the salaries of the SEC Chairman, the IRS Commissioner, the head of the WH Domestic Policy Council, and… the WH Press Secretary!

pic.twitter.com/fl5lQBePwb

— Ira Goldman (@KDbyProxy) November 7, 2023

The budget expires on Nov. 17, when the House and Senate proposals must be reconciled or temporary funding approved to avoid a government shutdown.

Related: Ripple’s legal chief questions SEC case losses under Gensler

With Republican Jim Johnson installed as the House speaker, digital asset legislation is also being revived in addition to Federal Budget-related matters.

Among the crypto-related bills awaiting Congressional attention are the Financial Innovation and Technology (FIT) for the 21st Century Act, the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act and the Keep Your Coins Act.

On Nov. 7, Senator Ted Budd introduced the Keep Your Coins Act — guaranteeing the right to maintain self-custody wallets — to the Senate after it passed the House Financial Services Committee in July.

The same day, The Wall Street Journal reported Deputy Treasury Secretary Wally Adeyemo urged Congress to crack down on the use of cryptocurrency for funding terrorism.

“There are places where we think Congress needs to act. We’re going to work with Congress to get more tools,” he said at the annual meeting of the Securities Industry and Financial Markets Association.

Over 100 legislators called on Joe Biden’s administration to act against cryptocurrencies’ purported role in terrorism financing in an Oct. 17 letter spearheaded by Senator Elizabeth Warren.

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