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Biden Wants 30% Crypto Mining Tax, But Can It Work?

President Biden's 2024 budget proposal includes a potential 30% tax on crypto miners' electricity costs by 2027, but it could be tough to implement and easy for miners to avoid.

New yorkUnited statesJoe bidenDigital asset mining energyCouncil of economic advisersPresident joe bidenPresident bidenEconomic advisersIsland ventures founding partner nic carter

Biden Proposes 30% Crypto Mining Tax to Offset Environmental Cost

The White House wants to tax crypto mining to offset the “harm” the practice causes. The Digital Asset Mining Energy (DAME) excise tax, proposed in President…

White houseDistrict of columbiaUnited statesJoe bidenDigital asset mining energyWhite house council of economic advisorsPresident joe bidenWhite house councilEconomic advisorsReaking news

Biden Wants to Hit Power-Hungry Crypto Miners With a Big Tax Bill

Crypto miners have become a drain on global resources and may soon see a 30% energy tax hike in the newly proposed DAME tax bill.

White houseDistrict of columbiaUnited statesBenjamina jonesLee bratcherUniversity of new mexicoTexas blockchain councilBiden administrationDigital asset mining energyCordless vacuum cleanerLee bratcherEnvironmental policyEnergy taxEnergy policyFinancial technologyBenjamina jones

Biden Budget Proposes 30% Electricity Tax on Cryptomining

The Biden Administration wants to crack down on high energy consumption from cryptomining operations.

White houseDistrict of columbiaUnited statesMichael kaganDigital asset mining energyUs energy information administrationInformation administration

Biden Administration Seeks to Impose 30% Tax on Crypto Mining

The Biden administration is looking to impose a major tax on the crypto mining activities taking place in the United States

United statesWhite houseDistrict of columbiaTom mapesBhushan akolkarWhite house council of economic activitiesBlockchain technologyDigital asset mining energyUs treasury departmentWhite house councilEconomic activitiesIndustry players revoltYahoo newsDigital commerceCongressional republicansRepublican controlled house

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