The latest reports from the Council of Economic Advisers (CEA) suggest the White House is pushing for a Digital Asset Mining Energy (DAME) tax following its negative environmental impact.
Does the white house make laws and regulations strict and must be obeyed by Bitcoin miners, I think there are many ways miners avoid the 30% tax.
What if this happened.
Critics of the tax proposal say that miners could easily move offshore to avoid taxation.
And what if this challenge actually happened.
Challenges In Implementing Crypto Mining Tax
Of course, a key issue with any crypto-related tax policy is this industry is a global phenomenon. If taxes on crypto mining in the United States are too high, then miners could move to a more favorable jurisdiction. Especially, as the limited supply of bitcoin increases competition among miners and the
rewards for mining bitcoin diminish.What can the white house/american government do, are they going to change the tax law to 10%.
Weird, America actually knew it was going to happen.
While the administration's plan acknowledges the risk of miners moving abroad it does little to ensure that mining operations do not shuffle between states in search of the lowest tax rates,
We'll see later, whether the 30% tax actually happens or......!