The United States keeps cryptocurrencies on the magnifying glass, especially the “miners” on whom it analyzes the possibility of applying a 30% tax.
The United States keeps the cryptocurrencies on the magnifying glass, especially those “miners” on whom it analyzes the possibility of applying a tax 30%
This is a special tax on Digital Asset Mining Energy (DAME) promoted by the Council of Economic Advisers. The argument is that this tax “encourages companies to start taking more into account the damages they impose on society.”
“Today, crypto mining companies do not have to pay for the full cost they impose on others, in the form of local environmental pollution, higher energy prices, and the impacts of increased greenhouse gas emissions on the environment. climate”, they emphasize from the CEA.
While other energy-intensive industries would not have to pay a similar tax, the CEA explained that “cryptocurrency mining does not generate the local and national economic benefits that are often associated with companies using similar amounts of electricity.”
It happens that the high energy consumption required by cryptocurrency mining has always been under scrutiny due to its impact on the environment. “Pollution from electricity generation falls disproportionately on low-income neighborhoods and communities of color. The intensive and often volatile consumption of energy by cryptominers can also drive up electricity prices for consumers and can increase risks to local power grids, discharging equipment, causing service interruptions and security hazards. .
For the CEA, it is key that the application of taxes be at the national level, to prevent cryptocurrency miners from moving from one place to another.
The Biden Administration first proposed the special tax in a document released March 9 by the US Treasury Department. According to these experts, the tax could raise up to 3.5 billion dollars in the next 10 years.
Source: Ambito
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