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Tag: Cryptocurrency Mining

President Joe Biden Proposes 30% Excise Tax on Crypto Mining Electricity

President Joe Biden Proposes 30% Excise Tax on Crypto Mining Electricity

March 10, 2023 | by Paul Godwin | 0
The administration of U.S. President Joe Biden has proposed an excise tax on cryptocurrency miners equal to 30 percent of the cost of the electricity they use, and plans to eliminate tax deductible losses related to wash-trading of crypto tokens,…

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