U.S. cryptocurrency miners could end up being taxed 30% on the cost of electricity as Biden releases budget proposal to “reduce mining activity.” It proposes that the tax would be implemented after December 31, phased in at a rate of 10% per year over three years, reaching a maximum rate of 30% in the third year. It seems a bit bad, but it is actually a long-term benefit. Regulating the market is conducive to the healthy development of the industry. 🤖

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