The Biden administration proposes a 30% tax on crypto miners to address climate change.
According to Yahoo News, the Council of Economic Advisers (CEA,) an agency within the U.S. Executive Office of the President, is pushing for a Digital Asset Mining Energy (DAME) tax.
The CEA stated that cryptocurrency miners harm society by contributing to increased local pollution and greenhouse gas emissions while increasing energy costs while operating with impunity.
The agency claimed its proposed DAME tax would redress the harmful environmental and social consequences of crypto mining.
Recently, proof-of-work mining has become a political issue, with advocates pushing back against efforts to stifle mining activities within the U.S.
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