Bitcoin

<h3 id="the-potential-debt-ceiling-deal-prevents-the-implementation-of-a-30-tax-on-cryptocurrency-mining-which-was-proposed-by-the-biden-administration">The potential debt ceiling deal prevents the implementation of a 30% tax on cryptocurrency mining, which was proposed by the Biden administration.</h3><p>On Saturday night, President Joe Biden and House Representative Kevin McCarthy reached a preliminary agreement to increase the debt limit of the US government. After several months of negotiations between political parties, the debt ceiling deal still needs to be officially approved.</p><p>US Congressman Warren Davidson has confirmed that certain proposed taxes by the Biden administration were blocked in the deal. One of the taxes that was successfully blocked is the 30% proposed tax on the electricity bills of crypto miners.</p><h3 id="budget-deal-excludes-proposed-energy-tax-on-digital-asset-mining">Budget Deal Excludes Proposed Energy Tax on Digital Asset Mining</h3><p>Biden’s proposed tax on crypto <a href="https://cryptosheadlines.com/usbtc-aims-to-become-bitcoin-mining-giant-with-celsius-assets-acquisition/" rel="noopener noreferrer nofollow">mining</a> electricity costs, known as the Digital Asset Mining Energy (DAME) excise tax, may not be implemented if the current budget deal is approved. The tax, which would amount to 30 percent of electricity costs for crypto mining, aims to address economic and environmental concerns. The final vote on the debt ceiling deal is scheduled for Wednesday.</p><p>Read Full Article Here: <a href="https://cryptosheadlines.com/debt-ceiling-deal-excludes-30-proposed-tax-on-crypto-mining-confirms-congressman/" rel="noopener noreferrer nofollow">https://cryptosheadlines.com/debt-ceiling-deal-excludes-30-proposed-tax-on-crypto-mining-confirms-congressman/</a></p><p><strong>You Should Definitely Visit And Join Cryptos Headlines Family: <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">https://linktr.ee/cryptosheadlines.com</a></strong></p>

Debt Ceiling Deal Excludes 30% Proposed Tax On Crypto Mining, Confirms Congressman

Table of Contents

CryptosHeadlines.com

Other articles published on May 29, 2023

Bitcoin’s price surges past $28k as non-zero BTC addresses reach 5-year high

Despite the Market’s Red Days, Binance Coin Holds its Ground: What’s Next for BNB?

Bybit Set to Conquer Central Asia: Regulatory Approval Marks Entry into Kazakhstan

Binance Shows Support for BRC-20 Token Listings

Announcement of KAT BEP20 listing on ProBit Global

Business Opportunities in the Metaverse

Join our free newsletter for daily crypto updates!