April 23, 2024: Joe Biden wants to eliminate the Bitcoin mining industry in the US #shorts #bitcoin
President Joe Biden is requesting that
Congress Target America’s Bitcoin mining
industry citing China as an example for
the US to follow in reality the US has
taken a proactive approach to
cryptocurrency regulations this is
particularly true for Bitcoin mining
which has a long history dating back to
the early days of Bitcoin however the
federal government seems determined to
dismantle this industry despite it
operating on a cleaner energy grid than
in most countries instead of a
business-friendly approach or at least
recognizing the value that the domestic
Bitcoin mining industry brings the Biden
Administration in Mar put forth a
controversial proposal to impose a 30%
special consumption tax on the
electricity costs used for Bitcoin
mining this strict proposal is called
the digital asset mining energy tax and
it could force us Bitcoin mining
companies to leave the country Senator
Cynthia lumus stated that the proposed
punitive tax of 30% on digital asset
mining activities would destroy any
foothold this industry has in the US
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