US to Charge Crypto Miners 30% of Cost of Electricity Consumed
According to the Green Book of the US Treasury, an excise tax for mining companies of 30% of the cost of electricity consumed by equipment will be introduced in stages over the next three years, with the rate increasing by 10% annually.
Miners will also be required to report the amount of electricity and power they use. Furthermore, the document suggests that such a tax could reduce the total number of mining devices in the US, as well as the associated environmental impact and other harms.
Additionally, the US Treasury has proposed expanding the rules for securities lending to include cryptocurrencies and that individuals with foreign financial accounts holding at least $50,000 worth of crypto assets should report those assets on their tax returns.
