*๐จSenator Cynthia Lummis Opposes Biden's Bitcoin Mining Tax๐ป*$USDP $BTC
- *Lummis calls the tax senseless*: Senator Cynthia Lummis has expressed strong opposition to President Biden's proposal for a 30% tax on the electricity used by Bitcoin miners, calling it "senseless" .
- *Concerns about the impact on the industry*: Lummis believes that this tax could harm the booming Bitcoin mining industry in the U.S., which has grown significantly since China banned Bitcoin mining in 2021.
- *Environmental benefits of Bitcoin mining*: Lummis also highlights the environmental benefits of Bitcoin mining, such as not venting gases into the atmosphere and stabilizing grids.
- *Lummis' commitment to protecting the crypto industry*: Lummis has pledged to stand in the way of the Biden administration's proposal and has expressed her commitment to protecting the crypto industry.
- *Bipartisan opposition*: Lummis is not the only one opposing the tax; there is bipartisan opposition to the proposal, with some arguing that it would drive Bitcoin miners to other jurisdictions ยณ.
