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Marathon Digital Holdings CEO on White House's Crypto Mining Tax Proposal

The Biden Administration is pushing to impose a punitive tax on crypto mining operations for the "harms they impose on society," according to an online post from the White House’s Council of Economic Advisers (CEA). Marathon Digital Holdings CEO Fred Thiel shares his reaction and why he thinks the White House "just wants to get rid of crypto" in the U.S.

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Відео

White House Pushes for Punitive 30% Tax on Crypto Mining Operations

U.S. President Joe Biden is looking to impose a punitive tax on crypto mining operations for the "harms they impose on society," the White House’s Council of Economic Advisers (CEA) said Tuesday in an online post. The administration’s blog entry made the case for a U.S. tax equal to 30% of a mining firm’s energy costs – an unusual industry-specific penalty that could threaten the profits of such businesses. "The Hash" panel discusses the potential impact on the bitcoin mining industry.

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