Bitcoin Miner GoMining Reacts To Narrowly Avoiding Biden's 30% Tax
Portfolio Pulse from Justin Roberti
The Digital Assets Mining Energy (DAME) excise tax, which proposed taxing crypto miners 10% of the cost of electricity used for Bitcoin mining in 2024 and 30% in 2026, has been dropped from a US bill. GoMining CEO Mark Zalan discussed the future of the crypto mining industry, the need for a unified regulatory framework, and the company's efforts to combine mining with NFTs and yield-bearing tokens.
June 05, 2023 | 10:02 pm
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The removal of the DAME excise tax from a US bill may provide short-term relief for Bitcoin miners, but the industry still faces regulatory challenges and the need for a unified framework.
The removal of the DAME excise tax from the US bill is a positive development for Bitcoin miners, as it reduces the immediate threat of increased taxation. However, the industry still faces regulatory challenges and the need for a unified framework, which may continue to create uncertainty and impact the price of Bitcoin in the short term. As a result, the short-term impact on Bitcoin's price is neutral.
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