'If the government doesn’t like how you use the energy, you’ll be penalized.'
"Cryptomining does not generate the local and national economic benefits typically associated with businesses using similar amounts of electricity," the White House wrote. "Instead, the energy is used to generate digital assets whose broader social benefits have yet to materialize."Unsurprisingly, the news of a possible tax was met with outrage by the crypto community.
"So, apparently it doesn’t matter where the electricity comes from — coal, gas, 100 percent renewable, etc." head of policy at A16z Crypto Brian Quintenz. "If the government doesn’t like how you use the energy, you’ll be penalized."With analysts predicting that could soon be over, the topic will be more relevant than ever as crypto miners could soon be looking for ways to re-enter the market.
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