U.S. President Joe Biden released his 2025 budget proposal on Monday featuring a number of provisions aimed at altering the cryptocurrency industry, including…
The cryptocurrency sector is a multitrillion-dollar industry. But rather than help Americans cash in on it, President Joe Biden apparently wants to discourage its growth, first through regulation and now through punitive taxation. The White House just unveiled a proposal for a 30% tax on bitcoin mining, which is the complicated digital process by which new bitcoins are “mined” or created.