It will enter into force in 2024 and will be applied progressively, adding 10% each time until reaching the total percentage.
The government of USA decided to create a new tax that forces the miners to cryptocurrencies to pay the increase electricity cost and the risks that such activity generates. was communicated through a official statement from the White House.
The US government explained that the energy intensive of cryptocurrency mining companies press the price rise of electricity for the consumers and generates risks to electrical networkscausing service interruptions and security hazards.
The goal of the White House
In addition, in the official communiqué they clarified that establishing this Digital Asset Mining Energy Tax (DAME) point to encourage companies to “begin to take more account of the harm they impose on society”.
As explained by the US government, this special tax clearly shows the president’s commitment to address the longstanding national challenges and emerging risksamong them, the paying for the costs of current crypto asset mining practices.
Within this framework, the White House decision is for companies to face a tax equivalent to 30% of the cost of the electricity they use in crypto mining. As explained in a supplementary budget document from the US Treasury Department, regardless of whether the resources used are owned or leased, mining companies must pay the special tax.
Specific, the tax would take effect from 2024 and it would be introduced progressivelyat a rate of 10% per year until 30% is reached.
Source: Ambito
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