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Biden's decision for the mining industry - turboplaycrypto

Biden’s decision for the mining industry

Biden's decision for the mining industry
Biden’s decision for the mining industry.

This time, the Biden government has targeted the mining industry and proposed that a 30% tax will be charged to miners.

The American government has put forward this proposal to prevent the destruction of the environment by the mining industry, which today many countries pass strict laws in this regard.

The Biden administration is trying to pass a law to collect a 30% tax on miners
The Biden administration is trying to pass a law to collect a 30% tax on miners

During the announcements published by the Council (CEA), the Biden government is trying to defend environmental rights by passing this law. This council continued that the cryptocurrency mining industry is associated with environmental pollution and must be dealt with.

This new tax is called Indirectly Collected Cryptocurrency Tax (DAME).

The purpose of the decision of the Biden administration for the mining industry is to hold companies responsible for environmental pollution.

The reaction of Bitcoin mining and extraction industry activists
The reaction of Bitcoin mining and extraction industry activists

The crypto community considered this tax unfair and said that this tax is not an incentive to use clean energy.

The Council of Economic Advisers (CEA) published an announcement in the New York Times article regarding the necessity of this law

Around this announcement, many reactions from the managers of mining companies and even people who are not in the field of cryptocurrency drew attention in the New York Times.

Pierre Rochard, vice president of research at the mining company Riot Platforms, who also criticized the New York Times article, said that this is the worst opportunity the White House has chosen to draw attention to Bitcoin. Rochard also criticized the current state of the global financial system, especially the banking system.

At the end of the news, it should be said that the government’s new laws for cryptocurrency technology and this tax plan of the Biden government will have an impact on the cryptocurrency industry.

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