Biden Administration Proposes 30% Tax On Crypto Mining To Counter Environmental Impact

Several US authorities have raised concerns regarding the environmental impact of crypto mining. Previously, US lawmakers probed the crypto mining energy use and environmental impact.
Biden’s administration is taking these concerns to another level. Biden’s Council of Economic Advisers (CEA) announced a 30% digital asset mining tax to offset its environmental impact. The new tax rule tagged DAME will take effect after a phase-in period.
Bitcoin Energy Consumption Attracts New Tax Rul