The bid administration urges the congress to say goodbye to a 30 percent tax on Bitcoin

The bid administration urges the congress to say goodbye to a 30 percent tax on Bitcoin
The White House tries to convince the congress of adopting a 30 percent climate protection tax for cryptocurrency school as part of his next federal budget.
The change with the title Digital Asset Mining is intended to encourage consumption tax on energy (lady) to better consider their so-called "social damage", including higher energy prices and greenhouse gas emissions.
Taxation of Bitcoin miners
As reported yahoo news plans to publish a blog post on the website of the white house on Tuesday, in which the consumption tax as" example of the efforts the government to combat climate change and to reduce energy prices.
"Currently, cryptomining companies do not have to bear the full costs that they impose on the climate in the form of local pollution, higher energy prices and the effects of increased greenhouse gas emissions," said the CEA in its contribution. The tax would gradually be introduced over 3 years, starting 10 % in the first year before it rises to 20 % in the following two years and finally 30 %. It would generate an estimated sales of $ 3.5 billion over 10 years. A CEA economist that spoke to Yahoo added that the economic advantages of crypto mining remain "unclear", while there are still concerns about the financial stability and environmental risks in the industry. Bitcoin mining has become unpopular among many left-wing politicians in numerous industrialized countries due to its presumed contributions to climate change due to its enormous energy consumption. In April 2022, a group of democratic politicians, including progressive like Alexandria Ocasio Cortez, signed a letter to the Environmental Protection Agency (EPA) to examine whether mining companies violate environmental laws. Bitcoiner replied with a separate letter to the agency in the following month, in which numerous misunderstandings were exposed to the damage to the Bitcoin mining. The municipality has generally strictly spoken out against attempts to regulate or regulate the mining change the code of Bitcoin to take the mining out of its company. Critics of the consumption tax proposed by biden believe that the fee arbitrarily aims at certain forms of energy consumption. "This makes it clear that they do not like the industry. They are looking for ways to hinder them," Tom Mapes, director of energy policy at Chamber of Digital Commerce, told Yahoo News. "This is just a way to pursue the industry that they do not support." . Critics of tax