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Biden's Proposal for 30% Tax on Bitcoin Mining Shelved in Debt Ceiling Deal

Biden's Proposal for 30% Tax on Bitcoin Mining Shelved in Debt Ceiling Deal

2023/05/30 02:33

U.S. Rep. Warren Davidson, R-Ohio, said the Biden administration's proposal for a 30 percent tax on bitcoin mining has been shelved in Sunday's debt-ceiling deal, and that the White House hopes the tax will address the environmental costs of bitcoin mining, though the White House may find another way to introduce it in an upcoming bill. The White House has previously made its position strongly known that mining comes at an environmental and social cost.

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