US Government to Introduce a 30% Tax con Crypto Mining
The US President Joe Biden’s Council of Economic Advisers (CEA) is proposing to include a 30% tax on electricity used in cryptocurrency mining in the federal budget in order to reduce its impact on climate change.
The Board is set to publish its case for the new Digital Asset Mining Energy (DAME) excise tax, arguing that it will force miners to better account for their environmental and social costs, such as pollution, rising fuel prices, and rising greenhouse gas emissions.
Thomas Mapes, director of energy policy at the Chamber of Digital Commerce, has stated that the administration’s move is an attempt to “attack an industry they don’t support.”
Cryptocurrency mining consumes more energy than Australia and accounts for up to 1.7% of total energy costs in the US, where about a third of all mining is concentrated.
